Archives



Business, Feature, Freight News, Logistics, Road


Are you in? Hilary Devey to offer Pall-Ex to members

[ October 22, 2019   //   ]

Pall-Ex founder and Dragon’s Den star Hilary Devey is to sell Pall-Ex Group to its network membership and management in the UK and Europe.

The acquisition, believed to be the first of its kind, is described as “a unique opportunity” for members to be involved in the development of the network. The management team have also committed to shares in the company but share ownership will be available to the entire UK membership and its International partners.

David Fairbrother of ADD Express, Maggie Larimore of PMB Pallets and Craig Stevens of STD Developments who have worked with Hilary Devey for over 20 years, negotiated the transaction alongside Pall-Ex group managing director, Kevin Buchanan. Contracts were signed on 15 October with completion anticipated for 31 October.

Devey, who started Pall-Ex in 1996, has decided to step away from the day-to-day running of the business after almost twenty-five years, but her continuing wish is to see the company grow and thrive. She will continue to work with the new owners in an ambassador role to help develop international services and the European partner network.

Maggie Larimore commented “Hilary has been a driving force in the development of pallet distribution and has turned the Pall-Ex name into an industry-leading International brand.  This purchase is the perfect way to preserve the legacy she has built.”

Kevin Buchanan continued “Pall-Ex will offer a unique proposition in the sector with management, UK members and International partners all working together as owners to further enhance Pall-Ex as the quality network of choice. We would like to thank Hilary for enabling us to take the next step on this incredible and exciting journey.”

Tags: