Wed, 24 Jan 2024 | BUSINESS SALE
Logistics firm DAA Transport Ltd has acquired a company based in North Yorkshire as it seeks to expand its presence in the North of England. The firm has acquired Floyd Schofield Haulage, which is based in Settle and serves the UK’s bulk and general haulage market.
There was substantial interest in acquiring the firm, with reports claiming that 49 parties initially came forward, before the company was ultimately sold to DAA Transport. The company joins existing businesses in DAA’s portfolio, including Norman E Webb Ltd, Norman E Webb Logistics and SL Transport (UK).
DAA Transport has a strong existing presence in the South of England, but is eager to expand in the North of England. Over the past few years, amid mounting pressures in the UK logistics industry, numerous companies have used M&A to drive geographic expansion, diversify their business and build scale.
Commenting on the deal, DAA Transport director Jon Dando said: "Floyd Schofield Haulage has a well-established reputation in the haulage industry and is an ideal company to join our existing portfolio, expanding our reach to the North of England.”
"The primary appeal was the company's strong local presence and expertise in the North Yorkshire region. This acquisition aligns perfectly with our strategic goals of geographical expansion and enhancing our service capabilities.”
Dando added that the outlook for Floyd Schofield was “extremely positive” and said that DAA Transport was committed to investing the business’ “growth and development [...] ensuring it continues to thrive and serve its customers with the same level of dedication and quality."
KBS Corporate Deal Executive Luke Rae oversaw the transaction and said that it provides Floyd Schofield with the opportunity to grow as part of a bigger group.
Find out more about how UK logistics companies are using M&A activity to drive their growth plans in a difficult trading environment
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