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ask the company https://boxvn.co.uk/
they are privately owned businesses now.
anyone, have a clue about this stock/company?
PENDING POSSIBLE FUTURE ALLOCATIONS?
WHATEVER THAT MEANS,,,,,,,,,,,,,,,,,,,,
As far as I can tell BoxVn Inc. is a private company. VCEX shareholders will receive one BoxVn Inc. share for every 2 VCEX shares. Perhaps BoxVn Inc. may go public one day but unless that happens all BoxVn Inc. shares are not tradeable on any public market.
All VCEX shares are also no longer tradeable on any public market.
VCEX: Effective Nov. 23,2021 Liquidation via the final distribution of the common shares of BoxVn Inc shares on a 1:2 basis to existing shareholders.
https://otce.finra.org/otce/dailyList?viewType=Deletions
Still trading with minuscule volume days and at .0002
some trades don't even add up to a dollar.
Yet they tweet from their account, with nothing for shareholders to consume.
BOX VN IPO ------ still waitin on it
SEC and OTC Markets is playing someone's game over here.
every time this was moving they came with a stupid reason to hit it with Caveat Emptor and later suspension.
Any chance of SEC getting involved to help shareholders? After all, it was SEC wo halted the sale of the stock!? Hoping to regain some of my loss! Anybody???
What happened to VCEX? Anybody???
AHH is still waiting. BoxVan needs to get their "transmission" out of reverse gear and get their stock going again in the US market.
CHECK OUT THE NEW WEBSITE,,,, IF INTERESTED---i HOPE THIS IS GETTING CLOSE TO SOME GOOD NEWS,,,,
VOLUME OVER 100,000 TODAY. Been a while since that's been done.
LONDON, March 11, 2021 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, has published a new press release today addressing trading activity in its shares. BoxVn is issuing this release in response to the SEC 10-trading day order of suspension, through December 31, 2021, due to questions regarding the accuracy and adequacy of information about the Company in the marketplace. The Company has retained securities attorneys who will be communicating with the SEC and we will provide additional information to the marketplace to support the Company's claims and actions. BoxVn is also exploring other avenues of listing their securities on a recognized exchange in a timely manner to provide the liquidity and profile that comes with such a listing. The Company appreciates shareholders’ patience through this process and management seeks to resolve the situation expeditiously.
https://www.otcmarkets.com/stock/VCEX/news/BoxVn-Limited-Issues-Corporate-Update?id=293387
grab some .05 if you can! :)
The chart seems headed in the right direction.......
jg@boxvn.co.uk
CEO email
This is really a bummer. Bought in 10-21-20 and a gain on 11-15-20 with Fidelity. Then BOOM SEC steps in w/temporary suspension. If this is not corrected I loose a big piece of change. Be watching this very carefully.
Bummer. Hope this gets corrected soon, and back on track,
VCEX SEC Suspension "because questions have arisen relating to statements VCEX has made in its disclosures for the quarters ended June 30, 2020 and September 30, 2020, and in several press releases issued since October 28, 2020, including statements about the VCEX’s operations and the demand for its services relating to the COVID-19 pandemic"
https://www.sec.gov/litigation/suspensions/2020/34-90687.pdf
Order:
https://www.sec.gov/litigation/suspensions/2020/34-90687-o.pdf
BoxVn Adds New Vehicle Fleet to Support its 130% Business Growth Target
Press Release | 12/11/2020
- BoxVn took delivery of a brand new fleet of 45 vehicles this week
- High-end fleet features smart driver-assist features and exceptional functionality and reliability
- BoxVn adds fleet to meet high demand which could reach 130% in growth during holiday season
LONDON, Dec. 11, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, announced today that it has taken delivery of a brand new fleet of 45 vehicles, beginning earlier this week. BoxVn’s smart new branded vehicles are a combination of long (LWB) and short wheel base (SWB) vans, and each boast state of the art technology. Vehicles include the Ford Transit Custom Van, Vauxhall Vivaro Panel Van, and PEUGEOT Boxer, all known for delivering exceptional functionality and reliability. Plus, BoxVn procured the Ford Custom Plug-in Hybrid. The hybrid features a battery powered electric motor with a 1.0 liter EcoBoost Engine and Geo-fencing technology to aid in improving local air quality.
Driver Friendly, Eco-Focused Features
BoxVn’s new vans are equipped with an impressive array of smart driver assist features designed to improve road safety and afford maximum efficiency for the driver. Key features include intelligent speed assistance (operated by an internal traffic sign recognition camera); pre-collision automatic braking; blind spot information assist (to alert the driver and step in when at risk of collision with another vehicle or pedestrian); semi-adaptive cruise control, and a lane departure warning system. For the added convenience of the delivery driver, many also feature FlexCargo functionality and keyless open and start smart technology.
In line with BoxVn’s Sustainability Strategy and its commitment to becoming the UK’s most responsible light commercial vehicle supply company, vehicles were carefully selected for their class-leading CO2 emissions and fuel consumption, low running costs and overall reduced emissions.
Demand for Vehicles, Delivery Services Remain High
Acquiring these new vans has been a coup for management as the logistics industry is experiencing a severe, unprecedented vehicle shortage. Many automakers have only just resumed operations following the Coronavirus shutdown earlier this year, at what is typically the busiest time of year for delivery drivers.
In parallel, the pandemic has meant numerous restrictions in place that continue to make it difficult for consumers leave their homes to shop for gifts, which continues to serve as a key catalyst in the growth of online retailers, and subsequent demand for delivery services such as those provided by BoxVn. Thus, even the largest delivery companies are really starting to feel the squeeze.
BoxVn is on target to achieve 130% growth in business in the holiday season between September and January, providing we are able to continue to acquire new vehicles, as needed via our existing suppliers and rapidly expanding network.
CEO James Gilzean said “Vehicle shortages are increasingly a problem at this time of year, and demand is at an unprecedented high due to restrictions imposed on the automotive manufacturing plants. We are delighted with our new fleet and are doing everything we can to ensure our customers are covered. We hope our drivers will feel proud to drive our new BoxVn branded vehicles.”
Got an email from the CEO still waiting on FINRA for the name change but company is legit. Will be rebranded shortly I bought some more after the reply
Early investors when they were private getting out. I don’t think there has been so much volume that it would be dilution. Lack of awareness aka volume here. Let’s see what CEO can do to get this going if the company is for real obviously many here are not
I think there isn’t that much volume at least they aren’t selling into the bid. Company has to prove its not a sham. 133 million shares are resticted. The new shares are from investors in the company who were given shares so that doesn’t worry me at this time. Float is still tiny
They are diluting the hell out of this pig. Just look at the restructure on the most recent quarterly. Starting to get a very uneasy feeling about this one
they sell on every news
BoxVn Closes Key, Accretive Logistics Acquisition
Press Release | 12/01/2020
Transaction raises BoxVn’s profile in the critical logistics and delivery industries
Deal is valued at $3.1M and BoxVn paid a combination of cash and stock
Hitra immediately adds revenue and the deal will be accretive to BoxVn in 2021
LONDON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, is pleased to announce that further to our news release dated November 5th 2020, BoxVn has completed its acquisition of Highway Transport Group Ltd (Hitra). BoxVn leadership views this transaction as transformative for the company. By integrating Hitra’s strengths and capabilities, this deal catapults BoxVn into a key player in the critical, logistics industry. Moreover, this combination gives the company a strategic springboard with which to enhance our growing position in the delivery market.
Transaction Highlights
Management and fleet teams will integrate long distance, two-man, white glove, and multi-drop routes into the BoxVn Framework.
The transaction is valued at $3.1M including payment of $1M in cash and the balance ($2.1M) in VCEX stock to Hitra Managing Director Michael McGovern.
Hitra deal enhances BoxVn’s growth profile. The combined companies offer the ability to quickly expand existing Hitra partnerships with more vehicles and people.
The acquisition immediately expands our offerings, could add $1,000,000 in revenue in 2021 and be accretive to BoxVn earnings.
BoxVn adds best-in-class talent which should lead to complementary synergies in the combined management and technical teams, strengthened by supply chain expertise.
James Gilzean, CEO of BoxVn, said, “We are delighted to welcome the Hitra team into the BoxVn family. We are now more than ever uniquely positioned to capitalize on tremendous growth opportunities in the logistics industry. Combining our fleet and driver management solutions with Hitra’s logistics expertise should have a significant impact in how we grow our business going forward.”
BoxVn Leading Light Commercial Vehicle Industry in Eco Strategy and Innovation
Press Release | 11/23/2020
- BoxVn begins full electric fleet trials
- BoxVn proud members of key Low Carbon Vehicle Partnership
- BoxVn outlines Sustainability strategy called “BoxVn Eco”
- BoxVn welcomes Government’s Ten Point ‘Green Revolution’ plan
LONDON, Nov. 23, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, is pleased to release its outlined plans to become a nationwide leader in sustainable light commercial vehicle supply segment.
BoxVn welcomes the Government’s recent announcement of an end in 2030 to the sale of new cars and vans with conventional combustion engines. In line with this initiative, the Company has announced 12 targets within its new sustainability strategy including reducing carbon emissions by 30% in 2021 and the creation of the BoxVn Eco Fund.
As an emerging leader in the LCV segment, BoxVn recognizes its responsibility to transition to low-carbon vehicles. Thus, BoxVn plans to soon launch its BoxVn Sustainability Strategy with immediate effect in a bid to become the UKs most responsible light commercial vehicle supply company and to further influence the ongoing debate around emissions. The Company’s first all-electric Mercedes Sprinter arrived in November 2020 as a critical initial step to expand our eco-friendly van options as outlined in the strategy announcement.
James Gilzean, BoxVn CEO said “We are working hard to ensure we are able to provide the latest electric vehicle options to help support carbon reduction however we do not underestimate the scale of the challenge ahead.”
Emerging Markets Report: When Opportunity Knocks
Press Release | 11/18/2020
An Emerging Markets News Commentary
ORLANDO, Fla., Nov. 18, 2020 (GLOBE NEWSWIRE) -- There are horrible, tragic human effects of the pandemic, notwithstanding that it has altered society in permanent and positive transformative ways. We’ve opined about some of these changes being sensible, long overdue events, like the developing trend towards telemedicine.
And it is clear that we are now incredibly comfortable shopping for goods of all kinds online. It’s as if another dot com may happen. Think about that for a moment.
And BoxVn Limited (OTCPINK:VCEX), with a business model squarely entrenched in this epic change, may have just picked the right time for a planned expansion.
BoxVn describes itself as “a small recruitment business that quickly evolved into a driver and Light Commercial Vehicle (LCV) supply business offering services so unique that it has revolutionized flexible vehicle supply, unemployment and the driver recruitment life cycle to provide a dependable and integral service to one of the biggest and fastest growing sectors in the world.”
The long and the short (haul) of it is that they built this unique trucking business in England and its market penetration, expansion and revenues have exceeded expectations. In the Spring of 2020, demand for vehicle delivery outpaced supply and projections are for demand levels to remain permanent. To meet this need, the Company plans to increase its fleet by 20% by year-end, expanding to 600+ vehicles.
Mighty Amazon had already doubled their truck fleet in late 2019, long before the pandemic gripped us in March. In researching this article we also stumbled on a piece from Business Insider, which shows how acute the CURRENT demand for trucking and delivery is:
Here’s the headline:
Amazon is scrambling to find truck drivers, and must now turn to the big trucking firms it has previously shunned
--- Full story here.
It says a lot about the market BoxVn is in and confirms the tailwinds of its planned expansion. This heightened need for delivery of products vis-à-vis the Internet is not going away and the companies who position themselves in the essential chain of this new economy are poised to grow and expand with it.
Why stack the ask let her run into the 40s jeeesh rookies
BoxVn Announces Key Partnership with WOW HYDRATE
Press Release | 11/16/2020
WOW HYDRATE Becomes Official Drinks Partner of BoxVn
Beverage fosters hydration, improved physical well-being and alertness
Broad use of sugar-free protein water will help drivers during busy holiday season
LONDON, Nov. 16, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, is pleased to announce partnership with WOW HYDRATE, a popular sugar-free electrolyte and protein water company, to provide discounted drinks to all drivers in BoxVn vehicles. Due to the incredible spike in numbers of new delivery drivers and the expected busy Christmas peak, drivers are working longer hours and may not be able to adequately hydrate themselves and recharge their energy. The sugar-free protein water has a unique push-cap technology which releases vitamins into its water. Thus, this swift method is becoming a popular way to maintain hydration by consumers across multiple service sectors.
BoxVn has chosen to partner with WOW HYDRATE in a bid to ensure its drivers maintain a healthier lifestyle, improved physical well-being and increased alertness when behind the wheel. BoxVn joins a host of athletes who WOW HYDRATE support. They include undefeated heavyweight boxer Tyson Fury, Manchester City and Belgium international Kevin de Bruyne, former solider and television presenter Ant Middleton and sports promoter Eddie Hearn.
Neil Young founder of WOW HYDRATE said of the partnership, “We are delighted to be partnering with BoxVn, ensuring drivers remain hydrated and healthy is important to us.”
Speaking about the partnership, BoxVn CEO James Gilzean said, “We are very happy to be working with WOW HYDRATE as our official drinks partner, they aren’t just a label but a quality product which the BoxVn team has used for some time. We always recommend the product to our drivers to promote a healthier lifestyle. I’m looking forward to working with the team more closely in the future.”
The sugar free electrolyte water and protein water has a unique push-cap technology which releases fresh ingredients into its water and is stocked in Tesco, Morrisons, Whole Foods and online at Amazon and Ocado. More information can be found by visiting at www.wowhydrate.com.
Manipulation does suck around here
Shorts trying to stop this from running
Seems like a bit of quiet accumulation
got my ticket :)
Starting to pick up here
$VCEX BoxVn Signs LOI to Close Strategic Acquisition
Press Release | 11/05/2020
— Deal Immediately Increases Capabilities, Enhances Market Share in UK Logistics Industry
— Transaction Could Close in November, Ahead of Busy Holiday Season
— Addition Comes at Critical Time with Commencement of Pandemic-Related Lockdown
— New Acquisition Expected to Be Earnings Accretive in 2021
LONDON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, confirmed that it is in advanced talks to buy Highway Transport Group (Hitra) , a deal valued at approximately $3m in a combination of cash and stock. Subject to due diligence, this transaction signifies another step in the rise of the Driver and Light Commercial Vehicle supply business. The news follows a string of moves that are primed to have a profound impact on the Company’s growth and positioning within the segment for BoxVn.
Highway Transport Group (Hitra) is an emerging logistics business which holds valuable and key service contracts with some of the biggest brands in the UK, including high street and online shopping brands as well as national warehousing distributors. The company has been using BoxVn vehicles for over a year and the relationship has played a significant role in commencing acquisition discussions with BoxVn.
Michael McGovern, Highway Transport Group Managing Director commented, “BoxVn’s service has facilitated our own growth while their client-first focus is something that mirrors ours. We entered into discussions regarding a combination with BoxVn to create a strong industry brand and being part of a larger group is something that will only propel Hitra to another level of growth which would be otherwise unachievable. We are now able to present Hitra as a company with enhanced facilities, improved fleet maneuverability, greater driver recruitment and a stronger financial structure. Together, we can increase market share over competitors who have been in business for decades.”
BoxVn, James Gilzean CEO noted, “We are very excited about the potential combination with Hitra and our companies may be able to conclude a deal within a matter of weeks, ahead of the all-important holiday season. Clearly, this new addition comes at a critical juncture given the latest pandemic-related lockdown. Adding a transport and logistics company to our portfolio will enhance our presence within the sector, and we expect the transaction to be accretive to our earnings.”
In recent months, BoxVn has been preparing to deal with the consequences of another UK-wide lockdown. Earlier this year, the COVID crisis favorably impacted BoxVn given the business generated by our clients who operate predominantly in the logistics’ last mile delivery sector. The British Retail Consortium, recently reported that 61.9% of all non-food retail sales in May this year took place online – which was up 31.4% on the same period 12 months previously. Faced with such a hike in volume, those logistics supply companies are primed once again turn to companies like BoxVn.
About BoxVn Limited
BoxVn Limited started as a small recruitment business and quickly evolved into a driver and Light Commercial Vehicle (LCV) supply business offering services so unique that it has revolutionized flexible vehicle supply, unemployment and the driver recruitment life cycle to provide a dependable and integral service to one of the biggest and fastest growing sectors in the world, Our core business is the supply of Light Commercial Vehicles to logistics businesses on a flexible and medium-term basis, and is designed to serve logistics businesses and drivers first with a non-traditional approach offering a high-level of service at an affordable price point. For more information, please visit www.boxvn.co.uk.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in BoxVn periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact Information:
For the Company For Investor Relations
James Gilzean Stan Wunderlich
Managing Director Launchpad IR
jg@boxvn.co.uk swunderlich@cfsg1.com
+44 (0) 203 553 5353 1-800-625-2236
Primary Logo
BoxVn Set to Commence a Major Fleet Expansion
Press Release | 10/28/2020
-- Company plans to increase fleet by 20% by year-end to 600+ vehicles
-- BoxVn growing fleet to meet expected uptick in demand for services due to pandemic
-- In Spring 2020, demand for vehicle delivery outpaced supply and projections are for demand levels to remain permanent
LONDON, Oct. 28, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, announced today that it plans to expand its fleet vehicles by 20% by year end in order to meet the expected uptick in demand for delivery vehicles. Once the expansion is complete, the Company will reach more than 600 vehicles on the road, of which more than two thirds are vehicles with a short wheel base.
Demand Levels Expected to Remain Permanent
The BoxVn fleet expansion supports the company’s mission to continue to meet the growing needs of the logistics market sector by providing a critical one-stop service, alongside our focused customer service, which in turn allows our business partners to grow and further expand their market share. This fleet expansion was driven by the need to respond to the developing needs of the growing retail and logistics sectors in response to the Covid-19 pandemic. Earlier this year, demand for vehicles outstripped supply causing major logistics issues. By being proactive, BoxVn is prepared to offer the supply required by our partners to drive their businesses forward.
The Covid-19 pandemic has proven beyond doubt the importance of the online retail and logistics sectors, and has expedited the behavioural shift in shopping habits. In the absence of traditional retail stores, online retail enjoyed growth of 30% in April 2020 alone. While some of the growth could be attributed to the public’s short-term reaction to the pandemic, industry pundits have predicted that a sales demand and growth are likely to be permanent.
BoxVn Financing the New Vehicles
Given the ongoing e-commerce expansion favorably impacting BoxVn’s business, the Company recently began negotiating with multiple finance partners to give BoxVn various platforms with which to sustain its ongoing growth. Across the 6 confirmed finance partners the initial purchase of 100 new vehicles will start to meet the shortfall of the ever-increasing demand.
James Gilzean, BoxVn CEO, said: “As the UK government announces more precautionary measures against the spread of coronavirus it’s now more important than ever to ensure the sector has enough vehicles to meet with compressed growth. BoxVn is proud to play a critical role in this process.”
https://www.otcmarkets.com/stock/VCEX/news/BoxVn-Set-to-Commence-a-Major-Fleet-Expansion?id=278336
BoxVn Signs LOI to Close Strategic Acquisition
Press Release | 11/05/2020
— Deal Immediately Increases Capabilities, Enhances Market Share in UK Logistics Industry
— Transaction Could Close in November, Ahead of Busy Holiday Season
— Addition Comes at Critical Time with Commencement of Pandemic-Related Lockdown
— New Acquisition Expected to Be Earnings Accretive in 2021
LONDON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, confirmed that it is in advanced talks to buy Highway Transport Group (Hitra) , a deal valued at approximately $3m in a combination of cash and stock. Subject to due diligence, this transaction signifies another step in the rise of the Driver and Light Commercial Vehicle supply business. The news follows a string of moves that are primed to have a profound impact on the Company’s growth and positioning within the segment for BoxVn.
Highway Transport Group (Hitra) is an emerging logistics business which holds valuable and key service contracts with some of the biggest brands in the UK, including high street and online shopping brands as well as national warehousing distributors. The company has been using BoxVn vehicles for over a year and the relationship has played a significant role in commencing acquisition discussions with BoxVn.
Michael McGovern, Highway Transport Group Managing Director commented, “BoxVn’s service has facilitated our own growth while their client-first focus is something that mirrors ours. We entered into discussions regarding a combination with BoxVn to create a strong industry brand and being part of a larger group is something that will only propel Hitra to another level of growth which would be otherwise unachievable. We are now able to present Hitra as a company with enhanced facilities, improved fleet maneuverability, greater driver recruitment and a stronger financial structure. Together, we can increase market share over competitors who have been in business for decades.”
BoxVn, James Gilzean CEO noted, “We are very excited about the potential combination with Hitra and our companies may be able to conclude a deal within a matter of weeks, ahead of the all-important holiday season. Clearly, this new addition comes at a critical juncture given the latest pandemic-related lockdown. Adding a transport and logistics company to our portfolio will enhance our presence within the sector, and we expect the transaction to be accretive to our earnings.”
In recent months, BoxVn has been preparing to deal with the consequences of another UK-wide lockdown. Earlier this year, the COVID crisis favorably impacted BoxVn given the business generated by our clients who operate predominantly in the logistics’ last mile delivery sector. The British Retail Consortium, recently reported that 61.9% of all non-food retail sales in May this year took place online – which was up 31.4% on the same period 12 months previously. Faced with such a hike in volume, those logistics supply companies are primed once again turn to companies like BoxVn.
News out
BoxVn Signs LOI to Close Strategic Acquisition
Press Release | 11/05/2020
— Deal Immediately Increases Capabilities, Enhances Market Share in UK Logistics Industry
— Transaction Could Close in November, Ahead of Busy Holiday Season
— Addition Comes at Critical Time with Commencement of Pandemic-Related Lockdown
— New Acquisition Expected to Be Earnings Accretive in 2021
LONDON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, confirmed that it is in advanced talks to buy Highway Transport Group (Hitra) , a deal valued at approximately $3m in a combination of cash and stock. Subject to due diligence, this transaction signifies another step in the rise of the Driver and Light Commercial Vehicle supply business. The news follows a string of moves that are primed to have a profound impact on the Company’s growth and positioning within the segment for BoxVn.
Highway Transport Group (Hitra) is an emerging logistics business which holds valuable and key service contracts with some of the biggest brands in the UK, including high street and online shopping brands as well as national warehousing distributors. The company has been using BoxVn vehicles for over a year and the relationship has played a significant role in commencing acquisition discussions with BoxVn.
Michael McGovern, Highway Transport Group Managing Director commented, “BoxVn’s service has facilitated our own growth while their client-first focus is something that mirrors ours. We entered into discussions regarding a combination with BoxVn to create a strong industry brand and being part of a larger group is something that will only propel Hitra to another level of growth which would be otherwise unachievable. We are now able to present Hitra as a company with enhanced facilities, improved fleet maneuverability, greater driver recruitment and a stronger financial structure. Together, we can increase market share over competitors who have been in business for decades.”
BoxVn, James Gilzean CEO noted, “We are very excited about the potential combination with Hitra and our companies may be able to conclude a deal within a matter of weeks, ahead of the all-important holiday season. Clearly, this new addition comes at a critical juncture given the latest pandemic-related lockdown. Adding a transport and logistics company to our portfolio will enhance our presence within the sector, and we expect the transaction to be accretive to our earnings.”
In recent months, BoxVn has been preparing to deal with the consequences of another UK-wide lockdown. Earlier this year, the COVID crisis favorably impacted BoxVn given the business generated by our clients who operate predominantly in the logistics’ last mile delivery sector. The British Retail Consortium, recently reported that 61.9% of all non-food retail sales in May this year took place online – which was up 31.4% on the same period 12 months previously. Faced with such a hike in volume, those logistics supply companies are primed once again turn to companies like BoxVn.
not me but patience pays ;)
Looks like you may have gotten them
GLTU my man but this is set up for the Covid crisis so I think it’s gonna pop
Didnt see this plummet however, wow
Shut down in England only means more deliveries for BOXVN
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