Rhenus acquires PSL Group

Rhenus Logistics has acquired warehousing, fulfilment and European express specialists PSL Group as it looks to strengthen its market position ahead of the UK’s uncertain departure from the EU.

The acquisition adds a Scandinavian service, by way of the SkanTrans PSL brand; high volumes of continental European distribution and a 24/7 customs clearance operation in Dover to the existing offerings at Rhenus Logistics.

Rhenus Logistics MD David Williams said that the PSL Group acquisition was “an important point of growth for the Rhenus UK portfolio”.

“There is a unified goal to ensure the acquisition is not only a success for all parties but also to enable Rhenus to further solidify its place within the forwarding sector,” Williams said.

“The next few months will be a crucial time for both companies as new projects arise and the two teams begin working together.”

PSL Group has a head office in Maldon, Essex as well as facilities in Birstall, Dover, Heathrow, Hinkley, Manchester and Northampton.

John King, managing director at PSL Group, added that becoming part of the Rhenus group would enable the business to “present new opportunities and services to our clients”.

“With our joint experience, international contacts and expertise in road freight, there is significant scope for growth,” King added.

The deal is the second acquisition  for Rhenus in the UK this year: it acquired warehousing, pre-retail, freight forwarding and distribution services provider Core Management Logistics in January 2019.

By Christopher Walton