MKT acquired by national logistics group

Nelson-based MKT Logistics, which regularly places on Lancashire Business View's Hot 100 list of the most profitable SMEs in the county, has been acquired by Turners (Soham) Ltd.

MKT was founded by Matthew Kibble in 1999 as Matthew Kibble Transport, later acquiring Kent-based Shakespeare Transport, and Coventry-headquartered FullForce Logistics.

The company now provides haulage and pallet distribution services throughout the UK, with a fleet of almost 90 trucks.

Matthew Kibble said: "I have always wanted MKT to become part of something bigger. I have known Paul, the managing director, for 14 years and I know my business couldn’t have gone to a better home.

Turners operates from 32 sites across the UK.

Paul Day, managing director of Turners, said: “We only purchase well-run transport companies to the Turners group and MKT Logistics fit in to that category.”

Lexington Corporate Finance acted as the lead advisor and presented the opportunity to several potential international acquirers. Turners emerged as the standout strategic acquirer for the business.

Tom Coombes, director at Lexington Corporate Finance, added: “Along with his wider team, Matthew has built an exceptional business with a strong reputation in the logistics sector and with his customers alike. There is an excellent strategic fit between the two companies and we look forward to seeing the combined business become greater together."