An international freight forwarder and operator based in Yorkshire has been acquired by a pan-European group in a multi-million pound deal.
Nidd Transport has been purchased by freight management services provider Xpediator for £4.6m.
Based in Ripon, Nidd Transport specialises in daily express deliveries across the UK and mainland Europe by road with particular focus on France, Spain, Portugal and Germany.
The move will see managing director Tony White, who founded the business in 1984, retire from the business, with the firm’s existing management team taking over.
Tony White, managing director at Nidd Transport, commented: “It was important to me to find the right buyer for our Company and I believe we have done so, ensuring it’s long term success with a bright future for the loyal team of colleagues that have supported me over the years.
“While I am stepping away from the business I believe, by becoming part of the Xpediator Group, the future prospects for Nidd will be enhanced, in terms of continuing to provide our clients the high quality service they have enjoyed, together with being able to offer expanded services which will also create opportunities for the business to gain new clients.”
Robert Ross, Xpediator CEO, added: “We have known Nidd Transport for some time and its reputation for being an excellent regional freight forwarder.
“I am therefore delighted Tony has chosen to entrust us with the future of his business and all the people who work for Nidd. Our aim is simply to continue to grow the company and we are confident we can do so.
“Our client bases are similar but do not have significant overlap and while our services are comparable, our geographic focuses are different.
“There are therefore immediate opportunities to provide greater geographic coverage to both client bases and we expect both existing client bases to benefit from the enhanced service offerings.”
Looking to promote your product/service to SME businesses in your region?
Find out how Bdaily can help →