Colchester-based logistics firm Systematic Logistics International (SLi) was placed into administration on 29 November, with a sale of the business assets completed by Palletways UK the next day.
The firm had been part of the Palletways UK network for over 24 years.
Barry Byers, Palletways Network Development Director, said: “Over many years, the staff at SLi have played an invaluable role in the success of Palletways in South East England. We are delighted to acquire SLi with its highly motivated workforce and are now working with the staff and customers to take the business from strength-to-strength. We have an excellent track record with acquisitions across the UK and with supporting newly acquired businesses and turning them into very successful depots within our network.”
Staff at SLi will continue in their existing roles and duties following the completion of the transfer to Palletways.
Richard Triolo, former CEO at SLi, said: “I would like to thank the staff and customers for their loyalty, commitment and contribution and to both SLi, Palletways and myself. I have thoroughly enjoyed the last 25 years developing SLi, but it is now time for me to move onto a new chapter. The acquisition of the company by Palletways UK leaves the company in experienced hands and with a positive future.”