TM Logistics drives Bibby expansion
TM Logistics, based in Worcester, has been bought by logistics company, Bibby Distribution. Liverpool-based Bibby said the acquisition will add £31m to its annual turnover.
TM Logistics will gradually be merged into Bibby Distribution’s UK operations, and will take on the Bibby Distribution name.
The deal is Bibby’s third purchase this year, following the takeover of Taygroup in April and a significant part of MRS Distribution in August.
Approximately 350 TM Logistics employees based at 16 UK sites will transfer to Bibby Distribution. The previous shareholders have opted not to stay with the business.
Iain Speak, chief executive officer of Bibby Distribution, said: “TM Logistics is a highly capable and respected operator with an ethos similar to our own and a significant number of high quality contracts.
“We are committed to providing excellent service and driving continuous improvement across all of our contracts. Naturally, we’ll be looking to build upon these new relationships and deliver the same long-term value for which Bibby is so well regarded.”
Speak added that acquisitions were “a key part” of Bibby’s growth strategy.
The scale of the TM Logistics acquisition means Bibby Distribution’s fleet will grow by 120 tractor units and 220 trailers, increasing total fleet capacity to 1,800 vehicular assets. It will operate from 80 different sites around the UK. The company will also acquire warehouse facilities in Worcester, Milton Keynes and Swadlincote, increasing total warehousing capacity to 2.5 million sq ft.
