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UK’s Xpediator acquires Benfleet Forwarding

LBR Staff Writer Published 30 October 2017

UK-based freight management services provider Xpediator has acquired international freight forwarder Benfleet Forwarding.

Based in Basildon of England, Benfleet is an international freight forwarding business, which is engaged in the movement of flooring, machinery, household goods and garments.

The firm manages an asset-light operation to offer freight forwarding services, including road transport and ocean freight shipments.

With offices in Dover, Basildon and Chelmsford in the UK, the company provides services across Europe, as well as the Far East and China.

The acquisition allows Xpediator to expand its operations in core European regions, including Italy, Greece, Turkey and Portugal

The deal includes an initial consideration of £6.55m, comprising of £3.95m in cash and £2.6m in new Xpediator ordinary shares.

Based on the achievement of certain milestones, Xpediato will also pay up to £3.9m in cash to Benfleet.

Xpediator CEO Stephen Blyth said: "We know the Benfleet business well and we are confident it will be a commercially valuable and accretive acquisition for us. Benfleet shares our asset light approach to freight forwarding and will add significantly to our sea freight activities.

"The Benfleet team are well known and highly experienced and we are delighted that Jason Herring, Benfleet's Managing Director, will continue to run the business.”

Xpediator offers integrated freight management services within the supply chain logistics and fulfilment sector through their three main areas, including freight forwarding, logistics and warehousing and transport services.

The firm offers regular and direct services, which link Eastern Europe, the Balkans and the Baltics with Western Europe. It also offers logistics and warehousing services in the UK and Romania.

Image: Xpediator has acquired international freight forwarder Benfleet Forwarding. Photo: courtesy of adamr / FreeDigitalPhotos.net.