Jobs have been secured at a prominent storage and logistics company in Peterborough which is under new ownership.
Barnack Storage and Logistics, which is based in Southgate Way, Orton Southgate, has been sold to a serial entrepreneur for an undisclosed sum.
The business, which provides ambient and chilled storage for the food and non-food sectors, has been bought by to Andy Scott, of REL Capital, in London.
Mr Scott says that all 80 jobs at the seven-acres site – which provides 180,000 sq ft of warehousing will be retained as part of the purchase.
Mr Scott says he will create a new business by joining Barnack with the Peterborough-based Bison Transport Group, which operates 50 trucks from two depots with a £12 million turnover, and which he bought about six months ago.
He said: “We are really pleased to add Barnack to our portfolio and are looking forward to combining the business with Bison which is just two miles down the road.
“The Peterborough depots are turning over £1.25 million a month which is really exciting.
Mr Scott added: “After completion we met most of the staff and confirmed to them that all of their jobs are safe.
“We will also be looking to create additional jobs as the combined Barnack Bison business grows.”
Mr Scott’s acquisition of Barnack was overseen by law firm, Clarke Willmott LLP led by corporate partner Helen Wong.
Ms Wong has acted for Mr Scott on his 10 purchases over the last two years.
Mr Scott recently secured a multi-million pound acquisition facility with his bankers Coutts to fund another three to five purchases over the coming 12 months and is actively looking for other UK logistics businesses for acquisitions and other local 50-100,000 sq ft warehousing sites.