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Masterlink Logistics buys Irish business of Target Express

  • 11 September 2012
  • By Chris Tindall

Dublin-based Masterlink Logistics has bought Ireland’s Target Express from the liquidators.

The firm, which employs over 350 staff and operates out of warehouse facilities in Dublin, Cork, Down and Galway, has purchased the defunct company’s goodwill and assets.

Its deal struck with provisional liquidator Grant Thornton includes buying the failed firm’s customer book and intellectual property.

Irish-based College Freight Limited, which traded as Target Express, ceased operation at the end of August after Ireland’s Revenue froze the company’s bank account due to an unpaid debt.

Target Express had 12 depots, four of which were in the UK, and employed close to 400 people – 300 in Ireland and 100 in the UK. Its UK operations were separately registered to College Freight Services (NI), and are not believed to be part of the deal.

In a statement Masterlink Logistics said: “Masterlink Logistics sought to acquire the Target Express business from the liquidator because of the growth opportunity and the strong fit between both businesses.”

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Article source: http://www.commercialmotor.com:80/latest-news/masterlink-solutions-buys-irish-business-of-collapsed-target-express