Transfleet buys Cotts
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• Distribution, rental and contract hire company Transfleet has bought competitor Mitchell Cotts Transport, which has a fleet of 2,000 trucks, for £16.5 million.
The two will merge completely within months, giving Transfleet a total fleet of 4,700. Transfleet, which has contract distribution deals with Marks and Spencer and others, will take over Cotts' dedicated contracts with Shell and Esso packaged lubricants and Magnet and Southern at Penkridge in the Midlands. It also distributes for British Rail subsidiary Magstar.
Transfleet, which aims to treble its fleet in five years, says Cotts' 13 depots will give it coverage in areas where it has so far been unrepresented. These include East Anglia and parts of the West Country.
Cotts' and Transfleet's main business is contract hire. Some 80% of Transfleet vehicles are on long-term contracts. Trans fleet's sister company Lex Vehicle Leasing, hires cars and vans and acquired Fleetdrive in April. Parent company Lex distributes trucks.