Carryfast buy-out
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CARRYFAST, the express parcels carrier which SPD took over from GKN, is to be sold to its own management.
A management consortium, headed by new chairman and managing director Martyn Oldroyd, has backing of several financial institutions, including the Industrial Credit Finance Corporation.
The move will shed SPD of its involvement in the parcels market, leaving it to concentrate on warehousing and specialist distribution. Its managing director, John Harvey, said this week: "We would not have considered this proposal unless we had been satisfied that the Carryfast management consortium had a carefully prepared business plan and financial backing."
Other board members of the new consortium are marketing and sales director Tony McClennan, finance director Bobby Hazeldine, and operations director Phil Kirk. Mr Kirk was previously with SPD.