Pall-Ex Group is now collectively owned by its UK network membership and senior management team.
Since distributing 117 pallets on its first night on 29th November 1996, Pall-Ex has grown into a quality European network that handles thousands of pallets every night, with partnerships established across the continent.
RUN D.M.C Investments Limited, a company created by Dave Fairbrother, Maggie Larimore and Craig Stevens, founder members of Pall-Ex, funded the initial membership part of the acquisition.
Pall-Ex has become the first UK network to be owned by industry personnel from within the business and throughout the membership. All have decades of experience running successful logistics businesses and are looking forward to working together to take Pall-Ex to the next level of palletised freight delivery.
Maggie Larimore, one of the founder-directors of Run D.M.C commented: “We are delighted that more than 70% of Pall-Ex’s UK membership will be shareholders and that the senior management have chosen to commit their long-term futures to help us grow.”
Kevin Buchanan, CEO of Pall-Ex Group, comments: “The senior management have bought into a five-year vision to build Pall-Ex, which is already an outstanding brand, into a market-leading European network.
“We are already in discussion with our International partners to invest further into Pall-Ex Group to deliver an ambitious development programme. We are also actively growing our UK network membership, to further increase our shareholder members within Pall-Ex UK.”
“I am excited about this journey and how far we can take the business, we have some key developments happening in the next few weeks, and so will be releasing information about these in due course.”
The new owners are also discussing shareholder options with Pall-Ex’s International partners, to further grow the European arm of the business.
The new ownership comes after Pall-Ex recently won a Global Freight Awards for its MyNexus system.
Technology is now at the forefront of the business, with major advancements anticipated in the next few months, including a pioneering Transport Management System (TMS).