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Clipper snaps up Stormont Truck and Van
Page 53
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The ever-expanding Clipper Group has made another acquisition — and further purchases may be on the cards. Kevin Swallow reports.
Stormont Truck and Van, the Iveco and Fiat dealer covering the South and the Midlands, has been bought by the Clipper Group. This acquisition takes the Clipper Group's annual turnover past the .E200m mark. Group chairman and chief executive Steve Parkin, who founded the Yorkshire-based logistics services company in 1992, plans further acquisitions this year; some deals are said to be at an advanced stage.
StormontTruck and Van,with an annual turnover of 1;50m, has sites in Northampton, Dunstable, Hildenborough and Brighton. Its purchase increases Clipper Group's involvement with Iveco; it bought Brighouse-based Northern Commercials in December 2005.
Parkin, says: "Stormont is a great strategic fit with Northern Commercials and will further complement Clipper's vehicle fleet, which now has over 600 trucks—giving Clipper a competitive advantage in terms of vehicle servicing and repairs, increased buying power and fleet management capability."
Group financial director David Hodkin says the deal represents a major step change in the scale and profitability of Clipper's operations. "Our sincere thanks to Phillip Simpson and his team at Bank of Scotland for their continued support of our long-term growth strategy," he adds.