WRM buys TDP
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• WRM, a new transport group with £30m of bank and venture capital behind it, has started an acquisition trail. The group is headed by David Winkworth, former managing director of distribution services at Hays Distribution. Winkworth's aim is to run a European logistics group with three core markets.
His first acquisition is £3.5m Hitchin, Herts-based TDP Distribution bought from partners Brian Collier and Terence Priestley. Collier stays on as operations director.
The company employs 70-80 drivers and operates 70 vehicles on contract distribution, mainly for WH Smith and white goods firms.
-A The moves come as fund provider European Acquisition Capital, which will advance £20m of WinIcworth's equity, says transport projects are becoming more popular with investors.
Venture capital firm 3i's industrial advisor Kit Noble says there are further signs of increasing investment activity in the sector,