MTH Express acquires rival Palletways member Pallet Systems for undisclosed sum
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MTH EXPRESS SERVICES has acquired rival Palletways member Pallet Systems for an undisclosed price.
As part of the purchase, Cannock, Staffordshirebased Palletways member MTH Express Services will take on Wednesbury operator Pallet Systems’ Palletways patch. It will now collectively manage deliveries in Derby, Telford, and parts of Birmingham for the pallet network.
The directors of Pallet Systems expressed an interest to retire and approached MTH MD Dez Shirley and principal shareholder Mark Hassell.
All staff transferred to MTH under TUPE regulations, and the firm now has a 34-strong workforce with an estimated £5m turnover.
Hassell says: “We want to expand our business through acquisition. Sales are recovering from the recession and the addition of Pallet Systems’ business will help us to grow more quickly. We have known the owners of Pallet Systems for some time, and are pleased that we have now been able to agree a deal that suits everyone.”