Former Keltruck directors John Biggin and Simon Hobson have bought another Scania dealer, TruckEast, in a buy-in/management buy-out deal worth more than £10m.
In 2006 TruckEast had a turnover of £65m with an operating profit of £1.2m. It operates from a dozen sites across the eastern counties.
The new management team was backed by Nordic investment bank Glitnir; Glitnir Integrated Finance holds a minority stake.
Reed Business Information Limited.©2008
