A pallet distribution specialist has completed a multi-million pound deal to buy their headquarters near Solihull.
Palletline moved to the seven million sq ft warehouse by the Birmingham Business Park in 2008 and have now completed the purchase of the premises for £13 million with the backing of Yorkshire Bank.
For almost two decades, Palletline Plc has brought together a national network of more than 70 independent distribution companies located across the UK from Lands End to John O’Groats and after moving 51 pallets on its first day of trading in 1992, the company now regularly moves around 10,000 a day.
Kevin Buchanan, managing director of Palletline Plc, said: “The current economic situation isn’t all doom and gloom – there are real, ongoing success stories out there, and we’re proud that Palletline is one of them.
“Our member companies have over 10,000 vehicles collecting and delivering freight every day of the week. As well as providing significant economical and environmental benefits, we are always looking at ways to reinforce our position as the market leader in our industry.
“As well as our central site in Birmingham, we have two regional hubs in Manchester and London and the middle of the night when most people are asleep is our busiest time.”
Nigel Wood, business banking partner at Yorkshire Bank in Temple Row in Birmingham, said: “Yorkshire Bank helped Palletline move to its second premises in Tyburn Road and it has gone full circle since they have now returned to us.”