A Northumberland-based transport management software provider has acquired a national online haulage and freight exchange.
Mandata, supported by Lloyds Bank private equity arm LDC, has purchased Returnloads.net for an undisclosed sum.
Headquartered in Essex, Returnloads.net is an online marketplace for hauliers and freight forwarders, giving members a platform to promote subcontracting jobs and empty vehicle capacity.
Chris Rigg, CEO of Mandata, commented: “Returnloads.net’s focus on using digital solutions to benefit the road transport and logistics sector matched our own objectives perfectly.
“This acquisition will help us diversify and expand our offering, while continuing to give customers the tools they need to reduce costs, drive efficiencies and improve productivity.
The acquisition follows backing from LDC in 2018. Chris explained: “Since LDC’s investment, we have made significant progress on our growth plan.
“Innovation underpins our model, so it’s been invaluable to work with a partner that understands how to support technology businesses and has the financial firepower, sector knowledge and heritage in the North East we need to achieve our ambitions.”
Gareth Marshall, head of Newcastle at LDC, added: “LDC actively supports management teams which are looking to grow their businesses through acquisition.
“This acquisition is a major milestone in Mandata’s growth journey and evidence of the strength of the North East’s technology sector during such an uncertain time for businesses.
“We have worked closely with Chris and the team to fund and support this acquisition. I’m confident Mandata is now even better positioned to help customers thrive as UK transport becomes increasingly digital.”
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