Far Logistics has announced the acquisition of Candour Logistics for an undisclosed amount.
The logistics firm, which employs 21 people, said they will continue to operate on the site with the backing of Far Logistics UK network and international footprint.
Far Logistics currently operates out of eight offices in the UK, and has recently expanded into Europe with a site in Rotterdam.
It is part-owned by the Cardinal Maritime group, which provides additional support with 11 international offices, and a major presence on the ground in China.
John Keary, managing director at Candour Logistics, said: “If you look at the growth we’ve had, and you look at what Far Logistics is doing, we are essentially putting two strong companies together and making them even stronger.
“Far’s like-minded attitude, way of doing business and strong sense of culture, means we can become part of the team easily. While Far Logistics has the backing of Cardinal Maritime, it has its own identity, too: it is pragmatic, and youthful, and I see that as a really good fit.”
He added: “It has always been a bit behind the digital curve. I saw this three years ago, and realised we could benefit from being stronger in many ways, with IT and a global infrastructure. Internally, there is also going to be more opportunities for the team. As a business, the deal solidifies our position, and ultimately makes us stronger.”
Simon Boucher, chief executive at Far Logistics added that the acquisition is an “exciting move” and shows the company’s ambition to drive the business forwards.
He said: “We want this to be the first of many acquisitions as we grow. We are focused on growth and are doing this because it’s the right thing for the business and for the management team. We also want to create opportunities for our colleagues to grow into.
“In addition, we are developing better products and more buying power in a global market. We have a really strong team and have the opportunity to deliver on this successfully.”
Matthew Judge from DWF provided legal advice to Far Logistics, with Sean Lightfoot from Hill Dickinson acting for Candour Logistics.