Leeds firm purchased by rapidly-growing logistics company Palletower
A LEEDS company has been purchased by storage and logistics equipment provider Palletower for an undisclosed sum.
The Greater Manchester firm has expanded its racking and shelving division by acquiring Leeds-based Alternative Storage Systems.
The purchase is Palletower’s fifth acquisition within the racking and shelving sector within the last eight months and its second in the Yorkshire region this year.
Palletower, based in Sale, has grown to become one of Europe’s largest providers of storage and logistics equipment. Recent acquisitions have helped take the business from an established global turnover of over £40m towards sales of £50m and more than 70 employees.
The company manufactures and supplies over 100 product lines including roll cages, trolleys, racking, and storage boxes.
Matthew Palmer, owner and managing director of Palletower, said: “Alternative Storage Systems has an impressive customer base, particularly in the warehousing and food production sectors, and we’re thrilled to be bringing the company into the Palletower business.
“This strategic acquisition will continue to fuel the rapid growth in our racking and shelving division, further expanding our presence in the North and East of England and complementing our recent acquisitions in the North West and Humberside.”
In January this year, Palletower acquired Beverley-based Kingstonian Storage and Equipment Ltd.