Challenge Group acquires TRG Group
Challenge Group has acquired TRG Logistics.
The undisclosed deal will see the two companies merge to become Challenge TRG Group, with current TRG CEO, Nick Gordon, and TRG MD, Steve Imber, continuing in their roles, as well as becoming shareholders in the newly-formed business.
Challenge TRG Group, which will have a combined turnover of £120m, will collectively employ around 4,000 temporary workers and 150 permanent employees, and will continue to operate from two HQ sites in the north and south – Wigan, Greater Manchester and Banstead, Surrey – alongside its regional hub structure, providing UK-wide support to its clients with offices from Livingston to Avonmouth.
Tom Cropper (pictured left), group CEO at Challenge TRG Group, said, “We’re delighted to be joining forces with Nick, Steve and their team to become a significant player in the delivery of manpower to retailers, logistics and distribution providers across the UK.
“As separate businesses we have built up an excellent reputation for supplying high-quality drivers and temporary warehouse workers, with a strong emphasis on skills and service delivery. We intend to grow that capability as a combined group and to continue to invest in people, as well as the bespoke TRG IT system. Our recent acquisition of Phoenix Training underpins this platform by providing an uninterrupted pipeline of staffing through training and development across all our sectors. This will allow us to further streamline processes and refine how we work with clients, to produce a seamless, efficient and transparent service.”
Richard Cropper (pictrued right), COO at Challenge TRG Group, added, “It’s very much business as usual and we will be working hard over the next six months to fully integrate both companies, and strengthen existing contracts through our combined scale, while pitching for new and ambitious PSLs.”
Gordon commented, “Merging with Challenge Group was a natural move for TRG, as both companies share a number of important synergies – not only in our commitment to service delivery, but the culture and ethos that underpins how we operate. I’m confident that together we will provide some of the industry’s biggest players with excellent manpower across the industrial and transport sectors.”
The deal was financed by Praetura and HSBC. Challenge Group was advised by SAS Daniels, Hill Dickinson and Grant Thornton, while TRG Logistics was advised by Gateley Plc, Grant Thornton and Boxington Corporate Finance.