Tuesday, October 22, 2019

Major Pallet Delivery Group Sale Goes Ahead

Founder Passes Company Over to Network
Shipping News Feature

UK – Hilary Devey CBE, founder owner and chairwoman of the pallet delivery network Pall-Ex, is to sell the company off to its network membership and management. Contracts were signed on the 15th October 2019 with completion anticipated for the 31st October 2019.

Ms Devey who formed the group in 1996 has decided to step away from the day-to-day running of the business after almost twenty-five years, her continuing wish is to see the company grow and thrive. She will continue to work with the new owners in an ambassadorial role to help develop their international services and European partner development.

David Fairbrother of ADD Express Limited, Maggie Larimore of PMB Pallets Limited and Craig Stevens of STD Developments Limited, who have all known and worked with Hilary Devey for over twenty years, negotiated the transaction alongside Kevin Buchanan, Group Managing Director of Pall-Ex who commented:

“Pall-Ex will offer a unique proposition in the sector with management, UK members and International partners all working together as owners to further enhance Pall-Ex as the quality network of choice. We would like to thank Hilary for enabling us to take the next step on this incredible and exciting journey.”

The acquisition, believed to be the first of its kind, will offer UK and European members a unique opportunity to be involved in the development of the network. The management team have also committed to shares within the company with share ownership being made available to the entire UK membership and its international partners. Maggie Larimore commented:.

“Hilary has been a driving force in the development of pallet distribution and has turned the Pall-Ex name into an industry-leading international brand. This purchase is the perfect way to preserve the legacy she has built.”

Pall-Ex has gone from moving just under 100 pallets on its first night to over 30,000 daily across the globe. All shareholders will be actively involved in the business as it looks to further develop Pall-Ex Group not only in the UK but throughout Europe. More details will be released in the coming weeks surrounding the opportunity and the structure of the new venture.