We are pleased to share the news that Benfleet Forwarding Ltd has become part of the growing International Freight Management Group, Xpediator Plc.
As stated at the time of Xpediator’s IPO in August this year, a key reason for Xpediator listing on AIM was to facilitate the Company’s M&A strategy in the highly fragmented freight forwarding and logistics market. Benfleet was identified as an acquisition opportunity prior to the Company’s IPO given the natural fit between the two businesses offering attractive synergies and cross-selling opportunities.
Stephen Blyth, Xpediator CEO, commented, “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..
“Our client bases are similar but do not have significant overlap and while our services our comparable our geographic focuses are different. There are therefore immediate opportunities to provide greater geographic coverage to both client bases and we have identified duplicated costs.
“Our strategy is to grow not only organically but also by acquiring smaller competing businesses which can enhance the Group’s earnings and enhance our services to existing and new clients. This acquisition meets these criteria and we look forward to integrating Benfleet alongside our Delamode freight forwarding activities.”