Posted on 1st December 2023
Featuring: Project Cargo Network Ltd, Hemisphere Freight Services Ltd
Hemisphere Freight Services are set to purchase the warehousing and freight forwarding elements of Magnus Group after it was announced that the group was intending to appoint administrators.
The acquisition will see Hemisphere Freight Services take on Magnus Group’s warehousing and forwarding divisions, as well as all associated operational staff.
The agreement aims to minimise business disruption to Magnus’ clients, as well as provide continuous employment to their warehousing and forwarding team members. As part of the arrangement, Hemisphere will also take over circa 200,000 sq ft of warehousing space at Magnus Group’s Great Blakenham facility,
Twenty-five jobs will be saved as a result of the agreement, which was one of the key priorities for Hemisphere’s board of directors ahead of the proposal to take over the business.
Andy Perrin, Hemisphere’s Managing Director, said; "It’s always hard to see a fellow family-run business go into administration, especially after decades of successful trading and becoming so well-respected within the local community. Our sincere condolences go out to everyone affected at what must be an incredibly difficult time.
This is a sad reflection of the current state of the industry and economic conditions, and our offer to acquire the warehousing and forwarding elements of the business was, above all else, an attempt to safeguard the employment and ensure the wellbeing of as many of Magnus Group’s team members as possible - particularly in the run-up to Christmas, when many households are feeling the strain.
We are incredibly excited to be able to welcome the new team members to the Hemisphere family and to strengthen the exceptional service we’ve always offered our clients."
The purchase of the two Magnus Group divisions comes at an exciting time for Hemisphere Freight Services as they prepare to open a new multi-million pound warehouse on the Suffolk Port One Logistics Park development (read more).
The site is set for build and completion by Q1 2024, and will enable the business to provide 34,750 racked pallet locations, which stack nine levels high, and an additional 8,000 bulk loaded pallets on floors and mezzanines.
Hemisphere’s Director, Craig Perrin, has said that the acquisition comes at a pivotal moment in the business’ growth:
"This deal creates the opportunity to add some fantastic people to our team, as well as add a number of new clients to our portfolio, enabling us to demonstrate our exceptional customer service and form new relationships which will hopefully last for many years to come. The priority for us is to minimise disruption on both sides and ensure that Magnus Group’s current client base is well informed and well taken care of throughout this process.
Hemisphere’s team will utilise warehousing space in Great Blakenham for six months in the build up to their new Port One site, before transitioning the business to the new site immediately upon completion.
The Hemisphere team has thanked Magnus Group’s suppliers for their cooperation and willingness to help get the agreement over the line, along with The Access Group, Kennedy Wilson and Larking Gowen. The team has also praised their solicitors, Keystone Law, as well as Ellisons, who have worked on behalf of Magnus Group, for making the process as seamless as possible.
Louis Perrin, Director at Hemisphere, added:
"At our core we are a family business, which has grown into a major logistics provider, and our growing success is largely attributed to our amazingly dedicated team. With us welcoming 25 new employees across the warehousing and forwarding sectors, we see this as a significant enhancement to our abilities to service both our existing and new clients alike."
http://www.hemisphere-freight.com
We want Freightbook users to have a good experience with our website, whether on a large PC screen or on their mobile devices.
Available now at m.freightbook.net
Hemisphere Cooperate on Printing Machine Transport to USA
Hemisphere Freight Services are pleased to share a recent shipment of OOG cargo...
Read more »
Aprojects Handle Turnkey Project for Belgian Power Plant
Aprojects are pleased to share their successful completion of a turnkey project for a...
Go Gauge Projects Ship Breakbulk from China to India
Go Gauge Logistics are pleased to update us on one of their recent successful breakbulk...
EZ Link Transport Heavy Transformers from Taiwan to USA
EZ Link are glad to share their recent handling of transformers via heavy lift vessel...
Go Gauge Projects Deliver Breakbulk Shipment from Italy to India
Go Gauge Projects are pleased to update us with their latest successful breakbulk...
KGE Nominated for Multimodal Project Transport to Al-Ula
KGE are pleased to share an interesting multimodal project which they recently...
Cuchi Shipping Transport Riser Catwalk to Louisiana
Cuchi Shipping, PCN Members from Vietnam, are glad to share a recently completed...
3p Logistics Delivers Excellence on Recent Industrial Projects
3p Logistics are glad to report on a project shipment they recently completed from the...
Go Gauge Projects Ship Transformers from India to Nigeria
Go Gauge Projects, PCN Members from Singapore, are glad to share an exciting...
EZ Link Handle Heavy Lift Movement from Taiwan to United States
EZ Link, PCN Members from Taiwan, are pleased to report their handling of heavy cargo...