17:00 Tue 06 Oct 2020
Xpediator PLC - Acquisition
6 October 2020
Xpediator Plc
("Xpediator" or the "Company" or the "Group")
Acquisition of
Xpediator, (AIM: XPD), a leading provider of freight management services across the
Acquisition highlights:
· Nidd based in
· Established in 1984, Nidd has built up long-term customer relationships with Northern based businesses in the
· Complementary acquisition with immediate cross-selling opportunities and a natural fit with the Group's existing operations.
· Generated revenue of
· Net assets include freehold property of HQ and warehouse valued at
· Current cash reserves of approximately
· Total consideration of
· Employs 65 people and specialises on road transport routes into
· Nidd is a founder member of Palletforce, providing a nationwide overnight
· Acquisition is expected to be immediately earnings enhancing.
Nidd Transport
Founded by
Potential Acquisition Benefits
· Nidd's focus on western
· Clear opportunities to cross sell Xpediator's services to Nidd's customer base and maximise carrying capacities to and from
· Synergies of linking
· Customs clearance services of the enlarged Group differentiates Nidd's prospects going into a potential hard Brexit.
· Minimum integration costs, the business will continue to operate under the Nidd brand.
·
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 expect both existing client bases to benefit from the enhanced service offerings."
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries
Xpediator plc |
Tel: +44 (0)330 043 2395 |
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Email: info@xpediator.com |
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Cenkos Securities plc (Nominated Adviser & Broker) |
Tel: +44 (0)20 7397 8900 |
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Novella Communications (Financial Public Relations) |
Tel: +44 (0)20 3151 7008 |
Tim Robertson |
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About Xpediator:
Xpediator is a well-established international provider of freight management services. Established in 1988, the Group's international network of offices provides road, sea and air freight services, together with logistics and warehousing in the
For more information, please visit: www.xpediator.com.
Alternatively, do follow us on Twitter at @Xpediator or find us on LinkedIn at Xpediator Plc.
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