Contract renewals mark MBO at Andover Transport
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JASON HORNER has marked his management buyout of Andover Transport by announcing contract renewals with Palletways and manufacturer Britax.
Transport manager Horner is now the sole owner of the business after buying it from the TrimTruk Group for an undisclosed sum. He received backing from the Royal Bank of Scotland, Natwest and a government Enterprise Finance Guarantee.
As part of the restructure, the company is leaving its Weyhill Road site in Andover, Hampshire, and relocating to two larger premises nearby.
Horner says: “The former owner wanted to retire and he offered me this opportunity because I have been involved in building the business since day one. I am really looking forward to driving the company forward even further. We have been doing extremely well recently, so it’s a prosperous time for us.” Horner is bringing his family on board to grow the business and his brother Neil has been appointed business development director. Other family members have been appointed finance director and HR director.
The buyout comes as Andover Transport signs a 10-year deal with Palletways to retain the Southampton postcode, and a two-year distribution renewal with child car seat manufacturer Britax.
Horner told CM last year that Andover Transport was traditionally opposed to pallet networks because it believed they made it harder for smaller operators to compete (CM 4 November 2010). However, it replaced former Palletways member Boyes Conning (which was subsequently liquidated) in September to cover the Southampton area.