Wales-headquartered Monex Group has acquired Lancashire-based road haulage business Richardson Traction Ltd.
As a result of the acquisition, Monex Group’s UK-wide fleet increases to 170, its total workforce increases to 260, and the growing team will now look to exceed the Group’s turnover of over £37 million.
A family-run business with more than 50 years' of experience operating both nationwide and internationally, Monex Group provides strategic, commercial and financial support for its ever growing portfolio of businesses, which includes Monex Logistics, Pike Logistics, Monex Marine, Monex Distribution, Richardson Traction, Monex International, Monex Cranes, and Monex Academy.
James Howells, Group CEO, said:
“We’re thrilled to be able to take Richardson Traction onto the next stage of its journey, with its wide range of services that include Hiab, heavy haulage, and international transport.
“We had been searching for the right opportunity to expand our business into the North West for a number of years, and with their established expertise and client base, Richardson Traction was the perfect fit we’d been looking for, and a fantastic addition to the Group.
“Now under the Monex Group banner, we’re looking forward to being able to utilise their well-established reputation for high quality of service to both existing and new partnerships, while also adding in our additional road transport services to the offering.
“Monex was built on a solid foundation, but we all appreciate the world of transport is changing, customer requirements are varying, and we need to continuously evolve and adapt our specialist services to support the growing demands. We never take our partnerships for granted however long or short a period they’ve worked with us, but not many business owners can say they’re still the logistics partner of choice for customers like Tenneco and Continental, who we’ve been fortunate to service now for five decades. That is absolutely testament to the dedication and commitment of the team we have here at Monex.”
Founded in 1980 by Gary Richardson, who since operated and managed its years of success with his son Wayne Richardson since 1985, Richardson Traction was well-known for its Hiabs low loader road haulage firm based in Thornton, Lancashire, near Blackpool, delivering both time and cost effective transport solutions across the UK and Europe.
Wayne Richardson, Director, Richardson Traction, said:
“We are pleased to be part of the Monex Group and looking forward to future growth and opportunities with Monex.”
