Palletower acquires West Pennine
The transaction was overseen by KBS Corporate.
BASED IN Haslingden, Lancashire, West Pennine is a warehouse equipment distributor which designs and supplies racking and shelving systems, also specialising in mezzanine floor installations.
West Pennine will now trade under the Palletower group. Palletower, based in Sale, Greater Manchester, supplies storage and logistics equipment to over 35 countries globally and has depots in the Czech Republic and Finland.
“We collectively decided the business would benefit from new owners (potentially as part of a larger organisation) to help it grow and be successful in the future, while at the same time we wanted to retire, so a commercial sale made great sense,” explained Colin Evans, who is exiting West Pennine along with fellow directors Steve and Julie Mercer.
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“We think it’s an excellent fit with the new owners. It’s a complementary business to the buyer’s existing business, which is growing and ambitious, and therefore we think it’s an ideal combination for future growth and success.”
Palletower’s managing director Matthew Palmer, added: “Acquiring West Pennine enabled us to purchase an established and well-respected business within the racking and shelving industry.”
The process was coordinated by KBS Corporate deal executive Zaahid Akhtar and was completed less than 12 months since coming to market.
Colin added: “Our transaction demonstrated that even a privately owned micro-business can have commercial value in the eyes of potential buyers, and anyone thinking of exiting shouldn’t just shut up shop but should explore the opportunities to sell it and realise some financial benefits,” said Colin.
“KBS presented us with multiple interested parties and ultimately their network put us in front of the ideal buyer.”
