Pall-Ex Group begins an exciting new journey

Pall-Ex, the industry-leading pan-European logistics brand is preparing for a new chapter in its 23 year history as founder, owner, chairwomen and Dragon’s Den star Hilary Devey CBE has agreed to sell Pall-Ex Group to its network membership and management. Contracts were signed on the 15th October 2019 with completion anticipated for the 31st October 2019.

The acquisition, believed to be the first of its kind, will
offer UK and European members a unique opportunity to be involved in the
development of the No.1 network for quality. The management team have also committed
to shares within the company with share ownership being made available to the
entire UK membership and its International partners.

David Fairbrother of ADD Express Limited, Maggie Larimore of
PMB Pallets Limited and Craig Stevens of STD Developments Limited, who have all
known and worked with Hilary Devey for over twenty years, negotiated the
transaction alongside Kevin Buchanan, Group Managing Director of Pall-Ex. 

Maggie Larimore commented “Hilary has been a driving force
in the development of pallet distribution and has turned the Pall-Ex name into
an industry-leading International brand.  This purchase is the perfect way to preserve
the legacy she has built.”

Ms Devey, who started Pall-Ex in 1996, has decided to step
away from the day-to-day running of the business after almost twenty-five
years, her continuing wish is to see the company grow and thrive. She will
continue to work with the new owners in an ambassador role to help develop
their International services and European partner development.

Kevin Buchanan continued “Pall-Ex will offer a unique
proposition in the sector with management, UK members and International
partners all working together as owners to further enhance Pall-Ex as the
quality network of choice. We would like to thank Hilary for enabling us to
take the next step on this incredible and exciting journey.”

Pall-Ex has gone from moving just under 100 pallets on its first
night to over 30,000 daily across the globe. All shareholders will be actively
involved in the business as it looks to further develop Pall-Ex Group not only
in the UK but throughout Europe.

More details will be released in the coming weeks
surrounding the opportunity and the structure of the new venture.

For more information on Pall-Ex, visit www.pallex.co.uk

Source: Courier News

Pall-Ex Group begins an exciting new journey

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