International logistics firm Caribou is on track to become one of the fastest growing parcel delivery companies in the UK following yet another strategic acquisition.
The firm announced that it has completed the purchase of Andover and Alton-based TM Couriers, a leading expert in logistics, warehousing, and supply chain management.
Specialising in storage, picking, courier services, general haulage, and pallet network distribution across Great Britain and Northern Ireland, TM Couriers recently announced that it has completed the purchase of Andover and Alton-based TM Couriers, a leading expert in logistics, warehousing, and supply chain management.
The firm has built a strong and solid reputation as the preferred courier partner for blue-chip companies in the UK. The acquisition of the company will enable Caribou to further expand its services and develop its expertise within the long established blue-chip market.
Throughout the transaction, Caribou has been working closely with Glenville Walker and Partners for legal services, and Langtons for financial due diligence. With the share purchase now completed, Caribou is expected to increase its turnover by approximately £9 million, bringing the company’s annual turnover to just shy of £20 million in total. The new acquisition will also see the firm welcome 180 drivers and more than 27 vital operational team members to the ever-growing Caribou family.
Caribou Managing Director Daryl Dylan said, “TM Couriers is a young, fast growing company with strong, forward thinking values whose solutions are playing a significant role in bringing supply chain capabilities into the 21st century, and we are very excited to grow our business with the help of their niche expertise. The acquisition felt like a very natural move for both parties, and we see many of our own values, especially a commitment to supporting organisations through change and assisting in the recovery of the UK economy, reflected in the TM Couriers team.”
With courier services becoming increasingly instrumental in business continuity throughout the pandemic, Caribou is dedicated to growing its network to ensure it is continuing to offer timely and affordable services for its customers during this time.