Knowles Transport, a market leading private third party logistics company, has announced the acquisition of 3PL warehousing & distribution provider Masters Logistical. Following a period of significant growth, Knowles Transport became the 100% shareholder of Masters.
Cambridgeshire-based Knowles Transport was founded in 1932, primarily serving the ambient food, drink and packaging sectors. The company’s already existing fleet of 325 vehicles and trailers, two million sq ft of warehousing space across two sites and a headcount of 380, will be joined by a further 42 vehicles and trailers, 85,000 sq ft of warehousing space, with expansion possibilities, and 30 members of staff.
“Following a 100% growth in sales revenue over the past six years, Knowles Transport has committed further to its expansion goals by welcoming the company, and its people, on board and acted as an ideal opportunity to expand our operations right on our doorstep.
“It is a match that is not only strategic, but being a 3PL warehouse and distribution specialist like ourselves, we felt that Masters Logistical was an excellent fit to bring on board. Furthermore, Masters’ ethos, company values and customer centric approach are very much synonymous with our own,” said Alex Knowles, Managing Director.
“The acquisition acts as a significant milestone in the company’s history as we continue on our growth journey. With demand remaining buoyant for our services, the increase to our fleet as well as the increased warehousing capacity 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.
“We are delighted to have successfully completed the acquisition of Masters Logistical, which under the Knowles umbrella will continue to trade under its name, offer its full range of services and retain its status as a long-standing shareholder member of the Palletline network. We are proud to be welcoming such an established and well-respected brand into the Knowles family,” Alex continued.
Masters Logistical, which is also a member of the Palletline freight distribution network, is based in Ely, offering services across Cambridgeshire and East Anglia.
“I am very excited to have found a suitable successor for the business. Sharing our family values Knowles Transport will continue to grow and develop the business ensuring its future success. We would like to thank our loyal staff, customers and suppliers for the support and encouragement they have given us over many years and we wish them all the greatest of success,” concluded Paul Upton, Managing Director at Masters.