Freight forwarding business sold after filing administration notices

A struggling freight forwarding business has been acquired in a deal designed to secure its long-term future and preserve jobs. The acquisition of Drac Logistics by Fracht Logistics came after the firm filed two notices of intention to appoint administrators.

Founded in 2009, Staffordshire-headquartered Drac Logistics has been a major operator in the UK’s freight forwarding market for the past 17 years. Operating across England and Scotland, the company provides domestic and international supply chain services, including air, rail, road and sea freight, worldwide customs, European groupage and clearance.

In the year to March 31 2024, the company reported turnover of approximately £16.7 million, down from £29.5 million a year earlier, while operating profit fell from £2.2 million to £1.1 million and post-tax losses totalled £788,419, following a £1.7 million profit a year earlier.

At the time, directors described the period as “a challenging yet strategically adaptive financial year”. Despite the drop in turnover and profitability, directors added the firm had improved its gross margin following “successful efforts in cost management and operational efficiency.”



However, the company’s struggles appear to have continued in the intervening period. It filed an initial notice of intention to appoint administrators (NOI) on February 23 2026, with a second NOI filed on March 9.

Shortly after the filing of the second notice, the assets and trade of Drac Logistics were acquired by Fracht Logistics, a subsidiary of Fracht (UK). The deal aims to secure the company’s long-term future, preserve freight forwarding jobs and provide continuity for Drac’s customers.

Drac Logistics founder Alex Hayes said that the deal would provide “broader international support and increased resources”, adding that the enhanced resources would enable investments in the firm’s “people, systems, and global network”, ensuring “better solutions, flexibility, and long-term value for our clients."

Claus Rasmussen, Managing Director of Fracht UK Ltd, said that the two firms represented a “great cultural fit”, with both being “very likeminded in our dedication to customer service and building close relationships with a reliable supplier base, to ensure we meet our promises.”

David Neate, partner at Evolve Corporate Finance who advised the buyer on the transaction, added: "The acquisition will see the company develop new and exciting services and enhance its ability to serve a global client base as part of the wider Fracht family – a global freight forwarding and logistics business with an outstanding reputation.”

In its latest accounts, Drac Logistics’ fixed assets were valued at slightly over £110,000 and current assets at around £5.2 million, with net assets amounting to £924,000.

Despite a dip in UK logistics M&A last year, appetite for dealmaking in the sector remains strong

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