Seafield Logistics has gone into administration and two of its operational units have been sold.
David Riley, Les Ross and Joe McLean of Grant Thornton UK LLP were appointed joint administrators of Seafield Logistics Limited on 11 June.
Tthe bulk powder transport business has been sold to Abbey Logistics, while the warehousing business based at Winsford has been sold to Lomas Distribution.
David Riley said: “The stakeholders of Seafield Logistics have experienced uncertainty for some time and the two sales provide a positive outcome. We are delighted that we have been able to secure in excess of 110 jobs as well as provide continuity to the customers.”[asset_ref old_id=”24647″]
Abbey Logistics Group is taking over the Winsford, Middlewich and Immingham bulk powder transport operations, increasing its fleet by 47 trucks and 57 powder tanks. This takes its total powder fleet to 104 trucks and 129 tankers.
Steve Granite, managing director at Abbey, said: “We are extremely pleased to have secured this deal to acquire certain assets of Seafield Logistics which is a significant step forward for our bulk powder division. We entered this market in 2011 with the acquisition of RH Stevens, we organically grew that business by 120 per cent in 3 years and this latest acquisition will take that growth to 320 per cent in 4 years.
The acquisition is expected to add some £6m revenue taking Abbey’s turnover to an expected £42m for the year ending June 2015.
Seafield had sales of £41.3 million for the 18 months to 31st December 2012, the last year for which accounts are available. However, it produced a loss for the period of £395,000.
Only last month, Tropicana, the fruit juice business which is part of Pepsico, renewed its logistics contract with Seafield Aylesham. Other customers include: TATA Chemicals, retailer Wilkinsons, and Premier Foods.