Cattaneo Corporate Finance has advised Palletforce on the acquisition of Dobbs Logistics.
EV Cargo Secures Competitive Edge for Palletforce with Acquisition of Dobbs Logistics.
- EV Cargo continues to invest in its UK logistics execution platform
- Acquisition strengthens the coverage of Palletforce, its LTL road freight pallet network
- Demonstrates its commitment to service quality, the best member in every post code
EV Cargo, a Hong Kong headquartered global freight forwarding and supply chain services company, is pleased to announce the acquisition via its subsidiary Palletforce of Hastings-based Dobbs Logistics from its founding family owners.
Formed in 1961, Dobbs Logistics has a long and proud history of providing pallet distribution, general haulage, project cargo and warehousing services for its valued customers, and is the stand-out pallet network member and road freight operator in a region that is historically challenging for pallet networks. As a result, the acquisition further strengthens the Palletforce network, providing members with a stable and trusted service partner in a key location.
Directors Stephen Morgan, Kevin Manser and Lynton Manser and their management team will continue to lead the business post acquisition.
The investment is a further demonstration of EV Cargo’s ongoing commitment to developing Palletforce, with a multi-year network development strategy focused on strengthening service and securing unrivalled quality and delivery performance in each postcode, thereby building a sustainable platform for members to enable their long-term growth.
Dobbs Logistics represents EV Cargo’s third purchase in the last 10 months, following the successful acquisitions of Fast Forward Freight (Netherlands) and Air Express Cargo (Spain), and ensures EV Cargo remains on track to deliver on its growth strategy to surpass $3bn of revenue by 2025.
Mark Tapper, Chief Operating Officer, EV Cargo Express and Palletforce said:
“We are delighted to announce the acquisition of Dobbs Logistics, the undoubted sector-leader in its area, and welcome our new colleagues and customers to the Palletforce network. Dobbs Logistics not only meets our best-in-postcode criteria, giving our members a competitive edge, but also strengthens our overall service proposition in the Southeast for members and customers.
“We made a commitment to our members that we would put them, and their customers, front and centre in our business. In achieving that we’ve focused intently on quality service, adding 12 new members in 12 months, and continuing our investments in technology, infrastructure, and sustainability.”
Stephen Morgan, Dobbs Logistics Managing Director, said:
“EV Cargo’s recognition of Dobbs Logistics as the unrivalled operator in the region is thanks to our reputation for quality and the hard work and dedication of everyone across our business.
“EV Cargo’s Palletforce network is renowned for excellence, and we are delighted to join a business which puts its members and customers first. We are looking forward to further developing our services, business proposition and securing the long-term future of the business.”
A team from Cattaneo Corporate Finance, led by Charles Cattaneo and Jordan Phillips, advised Palletforce on the acquisition, legal advice was provided by Shakespeare Martineau (Michael Stace) and financial and tax due diligence was provided by Evelyn Partners (Mark Benka).
Dobbs Logistics received legal advice from Gaby Hardwicke (Mark Williams) and financial advice from Watson & Co (Geoff Slater).