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Wincanton acquires CEL Group for £19.5m
Page 9
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By Christopher Walton WINCANTON HAS acquired the container logistics specialist CEL Group. which consolidates its position in the sector following January's purchase of container firm Hanbury Davies for £25m.
Adding CEL Group — which comprises three trading companies: CEL (Logistics) Ltd, W Carter (Haulage) Ltd and CEL (Engineering) Ltd — to its emerging solutions business gives Wincanton a company with a 15% share of the UK container logistics market.
The £19.5m deal sees Wincanton acquire 470 employees, a fleet of 370 vehicles, and an inland container terminal in Alconbury, Cambs, similar to the logistics giant's own facilities in the town.
Jeff Anderson, managing director of emerging businesses at Wincanton, tells CM there will be a number of synergies between the businesses.
"Earlier this year, we bought Hanbury Davies, which look us into the container ports market. Despite the current economic downturn, we believe container volumes in the UK and throughout Europe will increase in the long tern.
"The scale of the business going forward will he 750 trucks with sales of i120m-E125m, and we will employ 850 staff.
"With the Alconbury site, we were also interested in the concrete around the trucks. We need the space at the inland container port.
He adds: -The majority of the synergies are also around assets."