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EmergeVest completes US$46 million acquisition of the UK抯 Palletforce
FORCEFIELD Bidco Ltd that was set up in July by international private equity firm EmergeVest Fund has completed its acquisition of Palletforce based in Burton, Staffordshire in the UK for GBP30 million (US$45.95 million).
Palletforce was formed in 2001 and operates from a 400,000-square foot central hub in Burton, with an additional 100 depots across the UK and Europe, from where it operates its palletised freight distribution network.
With the transaction that was agreed to in August now complete, Palletforce's executive management have invested in Forcefield Bidco alongside EmergeVest.
Chairman of Palletforce, John Brotherton, was quoted as saying in a report from the UK's Multimodal News: "The sale of Palletforce at a substantial premium to the last traded share value allows our shareholders to benefit financially from our impressive growth in revenue and profits."
Palletforce was formed in 2001 and operates from a 400,000-square foot central hub in Burton, with an additional 100 depots across the UK and Europe, from where it operates its palletised freight distribution network.
With the transaction that was agreed to in August now complete, Palletforce's executive management have invested in Forcefield Bidco alongside EmergeVest.
Chairman of Palletforce, John Brotherton, was quoted as saying in a report from the UK's Multimodal News: "The sale of Palletforce at a substantial premium to the last traded share value allows our shareholders to benefit financially from our impressive growth in revenue and profits."
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