Clipper Logistics has acquired Tesam Distribution, the Peterborough-based retail distribution specialist, in a deal worth £11.75 million.
Tesam produced an operating profit (EBIT) of £1.8m on sales of £19.6m in the year to 30 June 2016. It operates from three sites in and around Peterborough totalling more than 1.1m square feet of space, was established in 1984 and employees c.250 people.
Clipper plans to increase capacity at the key site at Ivatt Way through the installation of mezzanine floors and additional racking and handling capability. It said this would “enhance the ability of the group to implement its strong pipeline of new business. The acquisition of Tesam will be immediately earnings-enhancing to the group.”
Tesam was principally owned by managing director Stephen Smith who will become a consultant to the Group following completion. The other members of the management team will remain as full time employees of the business.
Clipper chairman Steve Parkin said: “The acquisition, coupled with our planned investment in additional capacity, will enable us to offer existing and prospective customers of both Clipper and Tesam greater operational flexibility, and will provide further headroom for the delivery of our strong business pipeline.”
Tesam was founded in London in 1984 specialising warehousing and merchandise handling services for retailers. It moved to Peterborough in 1993. In 2010, TDL consolidated its operations and acquired an additional one million sq ft facility in Peterborough.
Source : Logistics Manager