Pallet-Track is a £84.6 million turnover haulage network headquartered in the West Midlands of England. The company comprises almost 90 haulier members who use the network to provide nationwide coverage to their customers.
Established by Nigel Parkes, Managing Director, in 2002, the business processes around 3.5 million pallets a year through its main central hub in Wolverhampton, England. and its two regional hubs in Wigan and Welwyn Garden City.
Nigel Parkes, says: “There are exciting times ahead. From the very beginning it was clear the culture of TPA was a differentiator with regards to their approach to partnership and collaboration, which had identical synergies with Pallet-Track’s values. Their shared ethos of member shareholder participation, combined with a long-term strategic vision and uniquely, a straightforward funding structure unencumbered by third-party financing arrangements, will enable this new partnership to realise its ambitions for long-term sustainable growth”.
TPA’s investment comes at a time when demand for flexible palletised logistics solutions continues to grow, with pallet networks becoming increasingly integral in ensuring regional hauliers have the infrastructure to service their customers across the UK. Pallet-Track’s highly efficient sortation hubs, together with its market leading proprietary technology platform, enables its haulier members to deliver their customers a dependable and high-quality service offering.
Ravi Aujla, Investment Director at TPA Capital, says: “We’re incredibly excited to be in a position to support Pallet-Track on the next stage of its journey. Under Nigel’s astute stewardship the business has grown into one of the leading pallet networks in the UK, which is a testament to the quality of the Pallet-Track team and its members. We were attracted to the culture of collaboration and the focus on premium service that Pallet-Track has fostered within the network. We look forward to partnering with the Pallet-Track team and its members to help realise their long-term ambitions.”
TPA were advised by Livingstone Partners, Pinsent Masons, BDO and Jones Hargreaves. The vendors were advised by Clearwater International, George Green, PwC and CIL.