Following the successful trading of Xpediator Plc on the AIM market of the London Stock Exchange, the Group is proud to announce that it has since acquired Benfleet Forwarding Ltd, an international freight forwarding company based in Basildon, UK.
For a reported 6.55million, Xpediator will take over management of Benfleet Forwardings three national headquarters – Dover, Basildon and Chelmsford – and will also inherit two international offices in Trento (Italy) and Ploiesti (Romania). These additions will secure the enlarged Group a total of 16 offices internationally, and will grow its team to over 650 staff.
Xpediators asset-light European road freight operations and ocean freight shipments, many of which are managed by Group brand Delamode UK, will be significantly expanded thanks to Benfleet Forwardings existing reach throughout the continent. Xpediator is expecting to deliver greater geographic coverage to regions that typically fall outside of its core European regions, such as Italy, Greece, Turkey and Portugal.
The business will continue to operate under the Benfleet Forwarding brand.
Dave Gladen, Group Marketing Manager at Xpediator, believes that the acquisition will provide a substantial boost to the companys M&A strategy in the ever-competitive logistics market.
Stephen Blyth, Xpediator CEO, commented, We know the Benfleet business well and we are confident it will be a commercially valuable and accretive acquisition for us. Benfleet shares our asset light approach to freight forwarding and will add significantly to our sea freight activities.
The Benfleet team are well known and highly experienced and we are delighted that Jason Herring, Benfleets Managing Director, will continue to run the business.
Our client bases are similar but do not have significant overlap and while our services our comparable our geographic focuses are different. There are therefore immediate opportunities to provide greater geographic coverage to both client bases and we have identified duplicated costs.
Our strategy is to grow not only organically but also by acquiring smaller competing businesses which can enhance the Groups earnings and enhance our services to existing and new clients. This acquisition meets these criteria and we look forward to integrating Benfleet alongside our Delamode freight forwarding activities.
More information on the acquisition can be found here.
Xpediator is a dynamic provider of logistics and freight forwarding solutions on a European and international scale. Renowned for delivery high quality European road transport, air and sea freight services, its sub-company Delamode UK is a pioneering presence in Europe.
Contacts: Dave Gladen, Group Marketing Manager
Telephone: 01376 333000