End of an era as Hilary Devey sells Pall-Ex
Founder, owner, chairwomen and Dragon’s Den star Hilary Devey CBE has agreed to sell Pall-Ex Group to its network membership and management.
Contracts were signed on the 15th October 2019 with completion anticipated for the 31st October 2019.
The management team have committed to shares within the company with share ownership being made available to the entire UK membership and its International partners.
David Fairbrother of ADD Express, Maggie Larimore of PMB Pallets and Craig Stevens of STD Developments, who have all known and worked with Hilary Devey for over twenty years, negotiated the transaction alongside Kevin Buchanan, group managing director of Pall-Ex.
Maggie Larimore commented “Hilary has been a driving force in the development of pallet distribution and has turned the Pall-Ex name into an industry-leading International brand. This purchase is the perfect way to preserve the legacy she has built.”
Ms Devey, who started Pall-Ex in 1996, has decided to step away from the day-to-day running of the business after almost twenty-five years, her continuing wish is to see the company grow and thrive. She will continue to work with the new owners in an ambassador role to help develop their International services and European partner development.
