8th May 2025 07:00
Van Elle Holdings plc
('Van Elle', the 'Company' or the 'Group')
Partnership deal with WS Specialist Logistics
Van Elle Holdings plc, the UK's largest ground engineering contractor, announces a 5-year partnership with WS Specialist Logistics Limited, which will see WS Specialist Logistics consolidate the Group's heavy haulage operations. This will include the disposal of Van Elle's in-house HGV fleet and transfer of its transport management team and directly employed drivers, into a new division of WS Specialist Logistics dedicated to heavy plant haulage, which will manage and operate the entire fleet.
This partnership will allow Van Elle to reallocate the current capital employed plus the further planned investment required in the HGV fleet over the medium term into growth initiatives driving greater returns for shareholders, whilst improving the utilisation of the ongoing transport operations and reducing associated corporate administrative costs by partnering with an industry leading specialist with capacity and neighbouring facilities to the Group's headquarters in Nottinghamshire.
WS Specialist Logistics have paid the Group a total of £2.9m in cash consideration for the assets being transferred and assumed operational management from 1 May 2025. As a result of the cash consideration received, the Group has reduced its funding facility with ABN AMRO from £11m to £8m, of which approximately £6.5m will remain undrawn after completion.
Chief Executive Mark Cutler commented: "This new partnership with WS Specialist Logistics is a logical initiative for the Group; releasing capital to invest in areas of greater return as we enter a long-awaited period of anticipated growth in our core markets. WS Specialist Logistics have been an excellent partner to the business for several years and we look forward to drawing on their expertise to further improve our transport operations whilst keeping the support of our fantastic, loyal in-house transport team and drivers that perform so well for us 24/7."
For further information, please contact:
Van Elle Holdings plc Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer | Via Walbrook |
Peel Hunt LLP (Nominated Adviser and Joint Broker) Ed Allsopp Charlotte Sutcliffe Tom Graham | Tel: 020 7418 8900 |
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Dowgate Capital Limited (Joint Broker) James Serjeant Nicholas Chambers | Tel: 020 3903 7715 |
Walbrook PR Limited | Tel: 020 7933 8780 |
Tom Cooper Nick Rome | 07971 221 972 07748 325 236 |
About Van Elle Holdings plc:
Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a wide range of ground engineering techniques and services including ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.
Van Elle operates through three divisions: General Piling, Specialist Piling and Rail, and Ground Engineering Services; and is focused on diverse end markets including residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 35 years.
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