Fortec Distribution Network has put its members in the driving seat by introducing a shareholder model for its pallet network.
To date, over 50% of its independent hauliers have become shareholder members, each gaining an equal say in how the business is run.
Longstanding Fortec member Devereux Transport, in the north east, is now a shareholder in the Watford Gap network, alongside leading Welsh hauliers’ Grand Prix Express and Celtic Couriers, and Channel Seaways, which specialises in pallet delivery to the Channel Islands.
Other established members to invest in the shareholder model include Northern Ireland’s Allen Logistics, Bridgetime Transport of South Wales, East Midlands-based B Taylor and Sons, and LHT Logistics, which operates out of London.
The shareholder model has been introduced following Fortec Distribution Network’s acquisition by Pall-Ex Group in 2020.
The network that delivers more is putting its shareholder members on the road to growth by providing easy access to the European market and improved tracking and visibility for palletised distribution.
The technology is enabling Fortec shareholders to tap into the growing demand for B2C (business-to-consumer) pallet delivery, which has increased since the first coronavirus lockdown.
Kevin Buchanan, Group CEO at Pall-Ex Group, comments: “This is an exciting time for our members, who now have an equal voice in how the Fortec Distribution Network operates and its strategy for future growth.
“Our shareholders are longstanding members of our network and our mutual commitment will support our collective growth within new markets.
“We have opportunities for new members to join our network and support Fortec in key regional areas, including Scotland, while growing and diversifying their own haulage operation.
“Despite the challenges our industry has faced during the Covid-19 pandemic, we are delighted so many members have purchased shares with additional enquiries coming in each week! This demonstrates the strength of our membership and the collective optimism about the future of our pallet network.”
Ben Ruby, Managing Director at LHT Logistics, comments: “As a longstanding member of Fortec, we were excited by the new shareholder model and how it encourages every member to work towards a common goal – creating a sector-leading network.”
Robbie Evans, Founder and Managing Director at Bridgetime Transport, comments: “Fortec is a valuable network to be part of and being an official shareholder underlines our commitment.
“Our position as a transport company is strengthened by our shareholder membership, as we are even more invested in the day-to-day running of Fortec and in its future.”
Fortec Distribution Network, based in Northamptonshire, is one of the UK’s leading palletised freight distribution networks. A wholly owned subsidiary of Pall-Ex Group, it forms the largest overall collection of members within the UK.
Fortec distributes thousands of consignments every day, through its 70+ network members, from a range of industries around the UK and utilising the Pall-Ex Connect service also distributes throughout the globe.