Wed, 29 Jan 2025 | BUSINESS SALE
Greater Manchester-based Palletower has made its fifth acquisition in six months by buying a Yorkshire racking and shelving specialist.
Palletower has bought Beverley-based Kingstonian Storage Equipment which was founded in 1992 and supplies customers across East Yorkshire and Humberside with a range of racking and storage solutions, as well as products like ladders, trucks, trolleys and lifting equipment.
Palletower, which has 60 years of experience in the sector, manufactures and supplies over 100 products including roll cages, trolleys, racking, stillages and storage boxes. It exports to over 35 countries and its client base includes blue-chip companies like Waitrose, Walmart and DHL.
The value of the deal was not disclosed.
Matthew Palmer, owner and managing director of Palletower, said: “Kingstonian is another well established business that plays a vital role in helping customers keep their businesses moving and their supply chains running smoothly. Bringing Kingstonian into the Palletower group enables us to further accelerate the growth of our business, giving us access to new markets as well as a number of complementary products and services.”
The corporate team at North West law firm Harrison Drury, led by Mark Traynor and supported by Ben Foulds and Richard Williams-Bulkeley, advised the shareholders of Palletower on the deal.
Traynor said: “The management team at Palletower have a clear and ambitious growth strategy which includes acquiring like-minded businesses alongside steady organic growth."
The acquisition of Kingstonian follows Palletower’s purchases of West Pennine Storage, WP Group, Astirvant and Yorkshire Storage last year. They have helped the company increase its turnover of more than £40 million towards £50 million. It has 70 employees.
Palmer added: “The last 12-months has seen us bring together a powerful collection of businesses in industrial racking, shelving, mezzanine floor installations, workplace equipment and warehouse fit-out services. We look forward to further opportunities to grow, especially within the racking and shelving sector where the potential for further acquisitions is being explored.”
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