Member Article

Independent freight firm acquires IFB as part of expansion

Simarco, one of the UK’s leading independent freight firms, has announced the completion of a deal to buy the Staffordshire-based operator, IFB, for an undisclosed sum.

The deal is the latest stage in an expansion which has already seen Simarco grow its turnover, client base and overseas services.

All three of IFB’s directors will remain with the business. Simarco founder and Managing Director, Simon Reed, said the acquisition was a bold statement of intent to develop business and improve standards in the freight industry.

“This is the right deal because it allows two established, award-winning companies with a similar approach to doing business to complement one another and fully realise their combined potential. “

Just like Simarco, IFB has a capable and fully-committed staff and places great emphasis on customer service. “Whereas we have a greater presence across the south of England, IFB is stronger in the Midlands and the North. Together, we can deliver a more complete and more efficient coverage of the entire country.

“Given the solid foundation which both firms have, this deal will enable us to press on with plans to make our business a real force in the British freight sector with real benefits for those clients that we serve, wherever they may be.”

News of the IFB deal comes only weeks after Simarco revealed that its turnover had risen by just over 10% during the last financial year.

Mr Reed said much additional business had been generated in the last six months as retail, automotive and manufacturing firms all increased exports.

He also predicted that significant strategic investments in personnel and equipment promised to propel turnover even higher in the years to come.

Simarco began trading in 1997 and operates extensive overland routes throughout northern and southern Europe as well as further services by sea and air outside the Continent. It has its head office at Witham in Essex, as well as sites at Liverpool, Barton-under-Needwood, Bury and Wellingborough.

The acquisition of IFB takes the Simarco group’s combined turnover to more than £35 million and comes as the Midlands firm celebrates 30 years of handling distribution by road, sea and air from a base at a 45,000 sq ft facility in Stoke.

Managing director Steve Shepley and financial firector Ray Harrison will remain as directors. Fellow director Peter Boyd will continue to advise the board. Mr Shepley said IFB would retain its identity and merits as part of Simarco.

“This deal will build on the strengths of two wonderful companies.

“There will be no material change in the running of either business other than both will be able to draw on each other’s expertise. “It means that everyone involved with IFB and Simarco can proceed with bold plans in pursuit of a common goal: success.”

This was posted in Bdaily's Members' News section by Simon Malia .