Sheldon makes eighth takeover
A West Bromwich-based logistics group has strengthened its grip on the UK market with its eighth acquisition in the last two years. The Sheldon Clayton Logistics Group has acquired Willenhall firm Costin Logistics, in a deal which will boost Sheldon’s annual turnover to £18m. Sheldon’s group managing director, Stephen Pollock, told Insider the company was eyeing up more potential acquisition targets across the Midlands.
Pollock said: “We’re interested in transport and logistics companies throughout the Midlands – acquiring land and other companies has seen us through these very challenging times. We’re looking at businesses in the East and West Midlands, but nothing further afeild.
“Going into the recession, our cash planning and investment strategy took the most important dimension in what we as a group did.”
Sheldon has made £12m of local trade acquisitions in the last two years, and also acquired more than £4m of land to support its planned future growth. Its annual turnover has increased from £5m to £18m over the past two years.
The latest deal comes hot on the heels of Sheldon’s purchase of FTG Logistics – another Midlands company which it merged with its European division over the summer.
Sheldon, which employs 170 people, is headquartered on Cygnus Point, Black Country New Road. The 12.5 acre site comprises more than 300,000 sq ft of new build office and warehouse facilities.
David Thomas is partner at Midlands accountant Spencer Gardner Dickins, which supported Sheldon throughout the deal.
Thomas said: “The group must and should remain focused on acquiring companies to complement the logistics infrastructure in the West Midlands when the time is right.
“Each acquisition has added value to its established land, buildings and trade at its Cygnus Point head office and hub for the group.”
