Bedfords on the look out for a new business to acquire
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By Christopher Walton WEST YORKSHIRE-based Bedfords Transport says it is in the market to acquire a haulier as part of wider expansion plans that could take the business outside of its traditional customer sets and geographic base.
Having acquired 100% of 25strong operator consortium Linq Alliance in February, the irm says it is “actively looking” at takeover targets in the industry.
Phil Lockwood, Bedfords commercial director, tells CM: “There is organic growth and you can also grow through acquisition. We are actively looking.” The search could take Bedfords outside of its traditional Yorkshire home, as the irm admits it is not concerned about the location of the business it would add to its books. “We want to go into a company and steer it, not manage it,” he insists.
Neil Taylor, business development director at Bedfords, adds: “There are a number of opportunities we have come across that have attracted the attention of this business, but it would have to be a very selective criteria.” Between September 2009 and September 2010, Bedfords Group increased its turnover by £10m, from £12m to £22m – its largestever turnover – and turned a loss of £145,002 into a pre-tax proit of £987,965.
Bedfords is also looking for new partners to join Linq Alliance, as it tenders for new contracts.