Simarco is set to boost growth following double acquisition
A UK independent freight firm is on course for further growth after completing deals to buy two of the country’s other specialist operators.
Simarco International has said its acquisitions of Formula Goss International (FGI) and Sutch and Searle mean the company is now able to provide clients with an “even more complete” service by road, sea and air.
The announcement of this latest key stage of Simarco’s expansion comes as founder and managing director, Simon Reed, is to celebrate the firm’s 20th year in business.
He said: “It really is something of a coup to acquire two such well-established freight and logistics firms, especially as they complement our existing capabilities.
“FGI’s road services add to the networks in southern Europe which we have built over the last two decades and - along with Sutch and Searle - they have become renowned for excellence in air freight.”
Both FGI and Sutch and Searle stretch back three decades.
FGI’s has mainly managed its sea, air and road routes - including a market-leading daily service to Italy and Gibraltar - out of offices at Bedford, while Sutch and Searle’s air freight expertise has been developed from Heathrow Airport headquarters.
Mr Reed described the deals for both companies as “substantial”, adding that they increased the Simarco network of UK sites to nine. Five are in the South East, including four in the company’s home town of Witham, in Essex.
The new acquisitions follow the capture of Chemical Lane-based operator, IFB, in April 2014, and since then, Simarco has grown its turnover by almost 50 per cent to £47m.
Mr Reed said he remained “on the lookout” for other possible acquisitions to bolster his company’s progress.
He continued: “We are committed to the idea of bringing on board individual staff or other companies which can add to what we already do, particularly when it comes to local knowledge or contacts.
“Just because we’ve completed these two deals does not mean that we are satisfied with making yet more improvements to our service and growing the volume of business which we handle and the way in which we do it.”