MOVE Logistics will acquire New Zealand transport company Fluidex Transport, at a cost of $15.2 milion.

Fluidex specialises in the transport ofbulk liquids and bulk dry powder,operating throughout New Zealand.

The acquisition is for 100% of the business and assets and a freehold property in Blenheim. Fluidex has bases in Auckland, Mount Maunganui, Blenheim, and Christchurch, and a fleet of prime movers and truck and trailer combinations, including specialist chemical and food grade tankers and ISO tanks.

The acquisition complements MOVE’s existing fuel and bulk liquids logistics business and supports MOVE’s strategy to further grow and enhance integrated supply chain solutions for targeted customer sectors, including dangerous goods and food grade commodities, such as oils, wine and dairy.

“This is a compelling and complimentary bolt-on acquisition which supports MOVE’s growth ambitions and enhances our customer value proposition with our already significant DG bulk liquids experience,” said COO of MOVE’s contract logistics business, James Watters.

“Fluidex has a national presence, blue-chip clients and a modern fleet. These are long lead-time assets which further strengthen our integrated solution and customer offer.”

Fluidex Transport has recurring revenue in excess of $11 million, with growth potential. MOVE will also benefit from significant cross-selling opportunities across the MOVE group.

“We pride ourselves on reaching the highest industry safety and customer service standards and are dedicated to using the latest technology to monitor and maintain performance,” said Fluidex owner Tony Galbraith.

“After 60 years fulfilling transport services to the New Zealand industry, it’s great to see Fluidex transitioning to a new owner with a commitment to high quality bulk liquids logistics and customer service.”

MOVE is one of the largest domestic freight and logistics businesses in New Zealand, with a nationwide network of branches, depots and warehouses.