The assets and trade of Drac Logistics have been acquired by a Swiss freight forwarder.
Stone-based Drac Logistics had filed two notices of intention to appoint administrators before the deal for its freight forwarding business was agreed with Fracht Logistics, a subsidiary of Fracht UK.
The acquisition is expected to secure the long-term future of the company, preserve jobs and provide continuity to customers.
Alex Hayes, founder of Drac Logistics, said: “This represents an exciting new chapter being a part of the Fracht Global family, providing continuity for our staff, customers and suppliers, providing broader international support and increased resources.
“This allows us to invest further in our people, systems, and global network – ultimately delivering even better solutions, flexibility, and long-term value for our clients.”
Drac Logistics was founded in 2009 and operates across England and Scotland, offering air, road, rail and sea freight services, European groupage, and customs and clearance services.
Family-owned business Fracht Group has more than 150 offices in 50-plus countries.
Fracht UK’s managing director Claus Rasmussen said: “We are happy to welcome our new colleagues from Drac into the Fracht Group.
“First and foremost, we see a great cultural fit. Both companies are very likeminded in our dedication to customer service and building close relationships with a reliable supplier base, to ensure we meet our promises. Together, our combined resources and greater presence across the UK create an exciting platform for growth.”
National M&A advisory practice Evolve Corporate Finance advised Fracht Logistics on the deal.
