Business
Partnership deal with WS Specialist Logistics
Partnership deal with WS Specialist Logistics.
About this update from Van Elle Holdings Plc
[{"type":"text","content":"\n\n \nVan Elle Holdings plc\n('Van Elle', the 'Company' or the 'Group')\n \nPartnership deal with WS Specialist Logistics\n \nVan Elle Holdings plc, the UK's largest ground engineering contractor, announces a 5-year partnership with WS Specialist Logistics Limited, which will see WS Specialist Logistics consolidate the Group's heavy haulage operations. This will include the disposal of Van Elle's in-house HGV fleet and transfer of its transport management team and directly employed drivers, into a new division of WS Specialist Logistics dedicated to heavy plant haulage, which will manage and operate the entire fleet.\n \nThis partnership will allow Van Elle to reallocate the current capital employed plus the further planned investment required in the HGV fleet over the medium term into growth initiatives driving greater returns for shareholders, whilst improving the utilisation of the ongoing transport operations and reducing associated corporate administrative costs by partnering with an industry leading specialist with capacity and neighbouring facilities to the Group's headquarters in Nottinghamshire.\n \nWS Specialist Logistics have paid the Group a total of £2.9m in cash consideration for the assets being transferred and assumed operational management from 1 May 2025. As a result of the cash consideration received, the Group has reduced its funding facility with ABN AMRO from £11m to £8m, of which approximately £6.5m will remain undrawn after completion.\n \nChief Executive Mark Cutler commented: \"This new partnership with WS Specialist Logistics is a logical initiative for the Group; releasing capital to invest in areas of greater return as we enter a long-awaited period of anticipated growth in our core markets. WS Specialist Logistics have been an excellent partner to the business for several years and we look forward to drawing on their expertise to further improve our transport operations whilst keeping the support of our fantastic, loyal in-house transport team and drivers that perform so well for us 24/7.\"\n \n \nFor further information, please contact:\n\n\n\n\nVan Elle Holdings plc\nMark Cutler, Chief Executive Officer\nGraeme Campbell, Chief Financial Officer\n\n\nVia Walbrook\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP (Nominated Adviser and Joint Broker)\nEd Allsopp\nCharlot...