Great Scott! Entrepreneur looks to acquire more logistics businesses
Peterborough transport business Barnack Storage and Logistics has been acquired by businessman Andy Scott who has pledged to retain all 80 jobs at the company.
Law firm, Clarke Willmott LLP has assisted serial entrepreneur Scott in his second major transport company acquisition in the past six months. He is on the look-out for more deals in the sector.
Clarke Willmott corporate partner Helen Wong led the advisory team and was assisted by Siobhan Birket providing Scott’s legal support on the 100 per cent share purchase of Barnack Storage and Logistics Limited in Orton Southgate, Peterborough.
All 80 jobs at the seven-acres site – which provides 180,000 sq ft of ambient and chilled warehousing serving both food and non-food sectors – will be retained as part of the purchase.
In November 2018 Scott bought nearby national haulage firm Bison Transport Group which owns and operates 50 trucks from two depots with a £12 million turnover.
“We are really pleased to add Barnack to our portfolio and are looking forward to combining the business with Bison which is just two miles down the road,” said Scott, who has also been named a Sunday Times 2019 Maserati Top 100 entrepreneur.
“The Peterborough depots are turning over £1.25 million a month which is really exciting.
“After completion we met most of the staff and confirmed to them that all of their jobs are safe. We will also be looking to create additional jobs as the combined Barnack Bison business grows.”
Scott recently secured a multi-million pound acquisition facility with his bankers Coutts to fund a further 3-5 purchases over the coming 12 months and is actively looking for other UK logistics businesses for acquisitions and other local 50-100,000 sq ft warehousing sites.
Barnack has a modern fleet of MAN trucks and curtain side trailers and 18-tonners. The acquisition will take the combined firm to around 70 vehicles. The warehousing at Barnack has 15 loading bays and is operational 24-hours a day, in three shifts. It is currently running at 97 per cent occupancy.