MTH snaps up Pallet Systems
Fradley-based logistics business MTH Express Services has bought Wednesbury-based Pallet Systems for an undisclosed sum. David Hughes and Stuart Downes, of FBC Manby Bowdler in Wolverhampton, advised on the deal.
The sale of Pallet Systems was prompted by the wish of its owners to retire and means its employees and operations will move to MTH Express Services’ depot at Fradley Park.
The combined company is to employ 34 people with an annual turnover of about £5m.
Mark Hassell, MTH Express Services’ principal shareholder, said: "We are keen to grow our business through acquisition in this tough market. Sales are recovering from the recession of the past two years, and the addition of Pallet Systems’ business will help us 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 which suits everyone."
