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Simarco extends coverage with Midlands buy
[ April 10, 2014 // Chris ]Essex-headquartered freight company Simarco is to buy the Staffordshire-based forwarder IFB, for an undisclosed sum as part of its expansion programme.
Simarco founder and Managing Director, Simon Reed, said the acquisition would help improve UK coverage: “Whereas we have a greater presence across the south of England, IFB is stronger in the Midlands and the North. Together, we can deliver a more complete and more efficient coverage of the entire country.”
He added that the deal “allows two established, award-winning companies with a similar approach to doing business to complement one another and fully realise their combined potential. Just like Simarco, IFB has a capable and fully-committed staff and places great emphasis on customer service.”
All three IFB directors will remain with the business – managing director Steve Shepley and financial director Ray Harrison will remain as directors. Fellow director Peter Boyd will continue to advise the board. The company identity will also be retained.
Simarco says that its turnover has risen by just over 10% during the last financial year.
It began trading in 1997 and operates extensive overland routes throughout northern and southern Europe as well as further services by sea and air outside the Continent. It has its head office at Witham in Essex, as well as sites at Liverpool, Barton-under-Needwood, Bury and Wellingborough.
The acquisition of IFB takes the Simarco group’s combined turnover to more than £35 million. The Midlands firm was founded 30 years ago and offers groupage and full load services into Europe, plus air and ocean freight, courier services and warehousing at its 45,000 sq ft facility in Stoke-on-Trent.