A Leeds-based firm, which distributes some of the UK's best-known consumer magazines, has been bought by its management. Macfarlane Transport has been sold by its founders, brothers Ian and Gordon Macfarlane, for an undisclosed sum.
The deal was co-funded by the Leeds offices of Lloyds TSB Commercial Finance, which provided asset-based lending facilities, and Lloyds TSB Corporate.
Robert Fox, managing director Macfarlane Transport, said: "Our strategy of steady organic growth will build upon our strong brand and we plan to continue investing in the systems and people that are key to providing strong customer service. The combined funding package put in place by the two divisions of Lloyds TSB will ensure that we can capitalise fully on the growth in the outsourced transport services market."
