Lep Group: open to offers
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• Operators planning to buy road transport companies in mainland Europe were given encouragement this week as the Lep Group announced it was "open to offers" on its German and Dutch subsidiaries.
Although Lep says it is not 'actively' trying to sell the companies finance director John East says: "If someone were to make a very good offer for them then we'd treat it seriously."
German road transport company Wohlfarth has a fleet of 500 trucks and employs another 500 trucks with permanent sub-contractors. It has a turnover of around £100m. Lep Swift Holland is much smaller with a 2.3m turnover and 45 trucks.
In an attempt to recoup funds and concentrate on its core freight forwarding business Lep has just sold UK road transport company Swift Transport Services for £26m to its senior management (CM 20-26 Feb). It has also recently disposed of Belgian transport company Jean Vincent.
East says that any sale of Wohlfarth and Lep Swift Holland would not be forced by the group's financial situation because of a debt restructuring deal announced last week. It also announced the appointment of David James as chairman and chief executive_