6 October 2020 - acquisition

The freight management services provider has announced that it has acquired UK-based international groupage freight forwarder and operator Nidd Transport Ltd for £4.6m.  This is a complementary acquisition which should have cross-selling opportunities.  The acquired business generated revenue of £11.0m and profit after tax of £0.4m in the year ended 30 April 2020.  Net assets include freehold property valued at £2.1m as at 30 April 2020 and current cash reserves of approximately £2.0m.  This looks to be a good value acquisition and it is no surprise that it is . . .

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