Knowles Transport has purchased the East Cambridgeshire logistics firm Masters Logistical Services, it has been announced.
As part of the transaction, the two Cambridgeshire companies will continue to operate as separate entities under common ownership.
The amount paid for the acquisition has not been disclosed.
Alex Knowles, a director at Knowles Transport, said the firm is “delighted” with the news and “proud to be welcoming such an established and well-respected brand to the Knowles family”.
“The acquisition acts as a significant milestone in Knowles’ history as we continue on our growth journey,” he said.
“With demand remaining buoyant for our services, the increase in additional resources will allow us to further expand our operations as well as cater to the demands and needs of both existing and new customers – ultimately helping to facilitate further growth.”
Masters Logistical Services is an independent warehousing, distribution and transport service which collects freight from Cambridgeshire and East Anglia and delivers across the UK.
The company was incorporated in 2006 but its origins date back to 1982.
Owners and directors Paul Upton and Deanna Wood have worked together at the business for almost 20 years.
In that time, it has grown from a next day delivery courier service to a specialist, and respected, national logistics player with established blue-chip clients.
The last set of unaudited accounts filed with Companies House in December 2021 said there were 28 employees.
Anthony Knowles and Pamela Knowles were formally appointed directors of Masters Logistical Services on October 10.
Mr Upton said: “We are extremely pleased to have found a like-minded local company to take over the business, they have a long history in logistics and will ensure Masters reaches its full potential.”
As part of the transaction, Knowles Transport will be joining the Palletline network of which Masters Logistical Services was a shareholder.
This cooperative of UK haulage firms works in partnership to distribute palletised freight efficiently across the UK and Europe.
PEM Corporate Finance, based in Cambridge, acted as lead adviser to Masters throughout the sale.
Partner Philip Olagunju said: “The project had a few bumps along the way, but it’s great to have finally crossed the line.
“In Knowles Transport, we found a buyer already in the logistical services space with a proud heritage and a very similar ethos to Masters.
“There are strong synergistic benefits to this deal, which unlocks some exciting growth opportunities.”
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