Founded in 2000 and headquartered in Minworth, Sutton Coldfield, TPN operates the UK’s second largest pallet network, comprising 106 regional hauliers. It has three central hubs that distribute to 121 distribution sites across the UK, alongside additional operations in mainland Europe.
In 2007 LDC and the management team of TPN led a management buyout to secure the continued development of the business. In 2016 LDC supported a re-financing of TPN alongside the current management team.
Since the original investment in 2007, the business has grown significantly, more than trebling revenues from £34.7m (2007) to £119.5m as at March 2017. TPN also opened a new purpose-built, 367,500 sq ft hub in 2014, added regional hubs near Preston in 2015 and in Brackmills, Northampton in early 2018.
TPN also acquired a long-standing member of its network, Eezehaul. Since 2007, annual pallet volumes have increased to 3.9m and the business now has the capacity to deliver up to approximately 21,000 pallets every day.
Following a ten year partnership, LDC reached an agreement to sell TPN to AIM-listed Eddie Stobart Logistics plc, a leading UK supply chain, transport and logistics group in July 2018. The deal values the business at £52.8m and generates strong returns since LDC’s original investment.
Mark Duggan, Chief Executive, TPN
We'd like to thank LDC for its support over the last 10 years on what has been an incredible growth journey that has seen our business grow from strength to strength, enabling us to develop into a leading pallet distribution business that we are today.