Bibby Distribution has taken over TM Logistics adding an additional £31 million of business to its annual turnover.
The deal is Bibby’s third major acquisition of the year, and follows the takeover of Taygroup in April and a significant part of MRS Distribution in August.
TM Logistics’ customer base includes 16 major contracts spanning the automotive, construction and FMCG markets.
In December of 2009, one of TM Logistics’ largest customers, Rexam Beverage Can Europe, renewed its contract for transport and warehousing services for the next five years.
Bibby is also taking over Derbyshire-based PLS, a sister company of TM Logistics that specialises in returnable transit packaging.
Bibby chief Iain Speak said: “TM Logistics is a highly capable and respected operator with an ethos similar to our own and a significant number of high quality contracts.”
Worcestershire-based TM Logistics, part of Taylors of Martley Holdings Group, was set up in the late 1930s by Edgar Taylor as a small haulage operation transporting sand and gravel in the Teme Valley. It has since become one of the UK’s largest independently owned logistics specialists.
It will gradually be merged into Bibby Distribution’s UK operations and take on the Bibby Distribution name. The acquisition means Bibby’s fleet will grow by 120 tractor units and 220 trailers, increasing total fleet capacity to some 1,800, operating from 80 different sites around the UK.
TM has warehouses in Worcester, Milton Keynes and Swadlincote. As a result of the deal Bibby will have a total warehousing capacity of 2.5m sq ft.
Some 350 TM Logistics and PLS employees based at 16 UK sites will transfer to Bibby Distribution under TUPE. The previous shareholders have opted not to stay with the business.
“Acquisitions are a key part of our growth strategy alongside the organic development of existing accounts and our strong track record for winning new business,” said Speak.