Lead Forensics

Case study

The Pallet Network: Support for national roll-out

Ten-year private equity partnership helped management treble revenues through investment, increased volumes and an acquisition.

The Pallet Network (TPN) is the UK’s leading provider of pallet distribution services.

Deal type
  • Management buyout
Exit type
  • Trade sale
Exit date

July 2018

Exit value


The Pallet Network (TPN) is the UK’s leading provider of pallet distribution services.

TPN’s members comprise of more than 100 of the best independent transport companies, with over 127 depot locations across the UK.

Increasing volume

The management team first chose to partner with LDC in 2007 when it led a management buyout to ensure the continued development of TPN.

After the investment, the business grew significantly. During the management’s ten-year partnership with LDC, revenues trebled from £34.7m in 2007 to £119.5m in 2017. TPN also opened a new purpose-built, 367,500 sq. ft hub in 2014, and added regional hubs near Preston in 2015 and in Brackmills, Northampton in early 2018.

The business also went on to acquire a long-standing member of its network, Eezehaul.

During the partnership, annual pallet volumes increased to 3.9m and by 2017 the business had the capacity to deliver up to approximately 21,000 pallets every day.

orange quote mark
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.”
Mark Duggan, Chief Executive

Rewarding partnership

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 valued the business at £52.8m and generated strong returns on LDC’s original investment.