Halesowen-based Bevan Group, which builds dry freight box and curtainside bodies for some of the biggest names on Britain’s roads, has announced the acquisition of drinks vehicle specialist PG Reeves.
PG Reeves was based at nearby Balsall Heath, Birmingham, where it manufactured truck bodies, many of them specially designed to offer fast access during multi-drop operations, for the likes of Coca-Cola, Matthew Clark and Dayla Drinks, as well as many independent breweries.
Bevan Group has paid an undisclosed sum for PG Reeves’ plant and machinery, as well as its order book. Key to the deal was its recruitment of former MD Martyn Reeves, along with a dozen of his former colleagues.
Bevan Group MD Anthony Bevan said: “Martyn’s agreement to join our team in the new role of director for business development was of paramount importance. Without him, we wouldn’t have gone ahead.
“The PG Reeves brand was well known and respected within commercial vehicle bodybuilding circles, and after 34 years in the industry, Martyn brings unrivalled expertise and customer contacts to our company. He’s going to be a great asset.”
Turnover within some divisions of the fast-growing Bevan Group is on target to double within the next 18 months, and Bevan predicts that overall sales will increase by 25% as a result of its acquisition of PG Reeves.
”We had identified the drinks sector as one that offered significant potential for growth,” he said. “With Martyn working to expand his already impressive customer base, we look forward to exploiting that potential.”
“We had reached the stage where we couldn’t take PG Reeves any further without substantial investment which, in the current climate, with funding in short supply and consequently expensive, was not a viable proposition,” said Reeves.
Bevan Group’s move for PG Reeves represents the latest in a series of acquisitions of former competitors or suppliers, and the company remains open to further expansion opportunities wherever and whenever these arise.
Source: Bevan Group
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