- 23 October 2019
- Transport / Logistics Services
Founder and owner of Pall-Ex, the pan-European logistics network, Hilary Davey CBE is to sell the company to its network membership and management. The company has announced that the contracts were signed last week, with completion expected on the 31st October.
Believed to be the first of its kind, the acquisition will offer UK and European members a unique opportunity to develop the business. Management have taken shares in the company too, with share ownership being made available to the entire UK membership and its International partners.
Maggie Larimore of member company PMB Pallets Limited 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.”
Ms 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, 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 their International services and European partner development.
Kevin Buchanan, Group Managing Director of Pall-Ex 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.”