Turners of Soham acquired Felixstowe-based Goldstar Transport
- Credit: Archant
Felixstowe-based Goldstar Transport, the UK’s second-largest container haulage operator, has been acquired for an undisclosed sum by Turners of Soham.
The deal will give the enlarged Turners group, which already operates from more than 30 locations around the UK, a fleet of 1,750 vehicles.
Turnover across the group, which is aiming to build its presence in the container sector alongside its temperature-controlled and tanker transport fleets and warehousing operations, will be boosted by around £95m to more than £400m.
Managing director Paul Day, grandson of Wallace Turner who co-founded the business with his brother Frank in 1930, said the acquisition of Goldster was “an exceptional opportunity for Turners”.
“This fits perfectly with Turners’ long term ambition to expand its presence within the container Industry,” he said.
“This acquisition, along with MacIntyre Transport earlier this year, will see the Turners Group reach 750 owned vehicles and 450 dedicated subcontractors operating every day in the container industry.”
Goldstar, which operates around 350 vehicles of its own and a similar number run by subcontractors, will continue to operate as a separate business under the management of its existing directors.
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Mr Day added: “Goldstar is well managed, remains customer focussed and has achieved consistent growth of the last 18 years.
“Goldstar has an extremely loyal workforce and one which Turners looks forward to supporting and working with in the future.”
Goldstar managing director Matthew Ashworth said: “The support of Turners will be hugely beneficial to the long term success of Goldstar, its customers and its staff.“
Besides its headquarters in Parker Avenue, Felixstowe, Goldstar – a member of the EADT/EDP Top 100 listing of the largest companies in Suffolk and Norfolk – has a 12-acre site just off the A14 at Woolpit, near Bury St Edmunds, which includes off-dock storage and a training centre.
MacIntyre Transport, also based in Felxistowe, was acquired by Turners in January this year and also continues to operate as a stand-alone business.
Besides its head office in Newmarket, where it has been based since 1993, Turners’ operations in the eastern region include sites in Felixstowe, Norwich, Red Lodge, near Mildenhall, Hatfield Peverel, near Chelmsford, Grays and Thurrock.