BDO provided lead advisory services to The Pallet Network (TPN) on its sale to Eddie Stobart.
Founded in 2000, TPN operates one of the UK’s largest pallet networks, comprising 106 regional hauliers and three central hubs. LDC backed the management buyout of TPN in 2007. Since then the business has grown significantly, trebling revenues from £35m to over £100m at March 2017.
Eddie Stobart paid £52.8m for the company, enabling the smooth exit of TPN’s previous investors. The new partnership provides TPN with some immediate operational synergies for its member network and will support the company in delivering long-term sustainable growth.
BDO provided a high degree of sector and technical M&A knowledge from the start of the deal till completion.
Paul Robinson, Finance Director, TPN