A transport company has acquired a York-based haulage business to help it win more clients and increase the size of its fleet.
TEF Transport, from Scarborough, has bought Millfield Haulage, in Nether Poppleton, for a “significant” but undisclosed sum in a deal funded by HSBC.
TEF Transport had only three vehicles and trailers when it was acquired by Andy Mclaughlin, a former driver and transport manager at the company, and his wife Linda, in 2005.
Now the business has 40 vehicles, 60 trailers and a multi-million pound, purpose-built logistics depot, with a 50,000 sq ft warehouse, which was built in 2008. TEF, which has 65 staff and a £6m turnover, supports manufacturers, including McCain Foods and Pindar Print, Scarborough and Rolawn Turf.
Millfield Haulage, which was offered for sale due to the retirement of the previous owner, has 20 staff, a 40,000 sq ft warehouse and an annual turnover of around £2m.
Mr Mclaughlin said: “Millfield Haulage will give TEF added flexibility and volume to ensure we continue to give our customers the first class service that we have become known for during the last 10 years. It will also ensure future growth as we add additional clients to our portfolio. Our plan is to double the fleet in York during the next 18 months.”
Mr and Mrs Mclaughlin were advised by the accountants and business advisers JWP Creers, with legal support from Harrowells.