Tue, 19 Nov 2024 | BUSINESS SALE
A 100-year-old North Wales haulier has been bought by 50-year-old peer P W Gates Distribution.
Flintshire-based Mars-Jones Ltd, which was founded in 1924 by Henry Mars-Jones carrying coal from Denbigh Train Station, has sold a majority stake to Hertfordshire-based family run P W Gates which was founded in the mid-1970s.
P W Gates managing director Peter Gates started his business with one van driving all over the UK and Europe.
Since then, the firm has grown into a widely respected third-party logistics (3PL) provider from its bases in Welwyn Garden City and Bedford, servicing the needs of a range of industries.
Established in 1924, Mars-Jones specialises in distribution, warehousing and storage, contract packing and assembly in the food and drink and mobility equipment industries.
Gates said the deal was the culmination of months of hard work alongside professional advisers and was completed without affecting the day-to-day running of either company.
Both hauliers are shareholder members of the Wolverhampton-based Pallet-Track network and expect that the move will help expand its palletised freight operations.
The firms will have a combined four depots with 316,000 sq ft of warehousing and cross-dock space with 27,000 racked pallet storage locations. Together the fleet will boast 84 vehicles and 130 trailers.
All staff at Mars-Jones will be retained, along with its warehouse facility in Sandycroft and its FORS Silver-rated fleet
P W Gates development director Chris Lynch said: "This acquisition benefits our business enormously as it will give us and Mars-Jones greater access to new markets. It has boosted our growth, and the shared infrastructure will increase our efficiency. Combining the companies will increase our services and customer base, offering our clients more diversity, delivering what we promise, together."
Managing director of Mars-Jones Ltd, Chris Flynn, added: "I am looking forward to what the next 100 years holds for Mars-Jones in this, our centenary year. We have worked alongside P W Gates for many years within the Pallet-Track network and I am delighted with this deal. We are excited to see what the two businesses will deliver collaboratively.”
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