PHS taken into Nightfreight fold
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• Parcels carrier Night-freight is beginning to realist its ambition of owning all the outlets in its national distribution network with last week's takeover of PHS, a 98-truck business at East Grinstead.
The acquisition of PHS and its airfreight subsidiary Jetspeed Air Cargo, gives Nightfreight ownership of 11 of the 45 depots using its Willenhall-based hub system. Nightfreight bought its first independent haulier in its network in 1987—Halifax-based TDL.
Nightfreight managing director Mike Pearce says that further acquisitions will be funded by a flotation of the seven-yearold business next year: It would be very nice to think in 10 years we will own all the outlets in the network, but some of the 22 businesses in the network will not want to change the relationship they already have," says Pearce.
The takeover of PHS gives Nightfreight 160 extra staff and five extra wholly owned depots. It is also expected to boost Nightfreight's profits by .L500,000. In January Nightfreight expects to announce a £2m profit on a £22m turnover, which is up on 1992's £20m turnover and £1.5m profit.