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One of the UK's largest bulk transport firms is close to another acquisition. Dominic Perry reports.
Page 10
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COUNTY DURHAM-based bulk haulier Hargreaves (UK) is on the acquisition trail again.
The firm is in talks to take over the business of Gilbraith Tankers, based in Accrington, Lancs.
If successful this would be its third acquisition in the 18 months since a management buy-out in May 2004.
A Hargreaves spokesman says. "Both firms are good at what they do, but they could do it better if they joined forces."
Gilbraith would become a part of Hargreaves' bulk liquids division, which currently operates from a depot in Bloxwich,West Midlands and runs 60 trucks. The company's most recent acquisition was Barnsley-based bulk tipper haulier R Hanson in 2005.
Other transport firms already owned by Hargreaves include Colman Haulage, Darrington Transport, Lyon of Bedale, LC Transport, Squire Distribution and 3C's Transport. According to its most recent accounts the Hargreaves Group made a pre-tax profit of £2.8m, with the transport division providing 44% of its turnover.
By way of contrast Gilbraith Tankers' latest accounts show a pre-tax loss of almost £85,000.