North West Logistics acquires Wrexham business with HSBC funding support

A Lancashire-based logistics firm has acquired a Wrexham business with support of a seven-figure funding package from HSBC UK.

North West Logistics has utilised finance from HSBC UK to acquire Proserve Logistics, a Wrexham-based company providing warehousing and transport solutions for businesses to help maximise performance, efficiency and reliability in a cost effective manner.

Proserve currently have in excess of four hundred thousand square feet of warehousing space, supported by a fleet of fifteen vehicles.

The acquisition aims to strengthen North West Logistics operations and expand its geographical presence in North Wales and surrounding regions.

As a result of the HSBC UK funded acquisition, and the inclusion of an expanded customer base, the combined revenue of the new group will increase to £17 million, and over the next two to three years revenue is expected to increase further.

Stephen Dunn, Managing Director at North West Logistics, said: “The acquisition of Proserve Logistics marks an exciting next chapter for our company, and we’re grateful to HSBC UK for providing funding.

“This acquisition allows us to join together with a well-established, reliable business, with a very experienced management team, robust growth plans and a loyal customer base.

“We’re well-positioned to seize further growth opportunities that focus on the highest quality logistical solutions for our customers, whilst enabling us to retain the strength of our existing processes and management team.”

John Green, Managing Director at Proserve Logistics, said: “We are all excited about the future of the new group and its ability to achieve much more in the UK logistics sector. The various synergies we share will help us to create new opportunities for growth, and find new efficiencies in our operations.”

Jason Gledhill, Corporate Relationship Director at HSBC UK, added: “North West Logistics continues to perform exceptionally well in the logistics sector and generate impressive levels of organic growth.

The acquisition of Proserve Logistics, a trusted business, consistently delivering the highest of standards for its customers, signals an exciting milestone and we look forward to seeing further growth opportunities born out of this union.”

With over 60 vehicles in operation, supported by one hundred thousand square feet of modern warehousing space, North West Logistics provides solutions and support to customers across the UK, ranging from SMEs to large multi-national businesses.