Two former directors of Fortec Distribution Network have announced plans to launch a major new UK pallet network, Principle. Neil Hodgson and Marcus Fischer will lead this first new venture within the palletised freight sector in over 10 years.
With a joint seven-figure investment from private equity and corporate bank lending, the network will be operational in the next few months, and officially trading from the new year. Initially employing over 60 people, the central hub will operate from a purpose-built site in the Midlands.
Principle has an ambitious five-year growth and expansion plan. Neil Hodgson, CEO Principle Pallet Network, states: "Despite this being a mature market, there is a proven opportunity for a new pallet network to enter the market with a firm focus on identified vertical markets which demand high levels of service, security and information.
“Principle will be an attractive proposition for transport businesses looking to enhance their current service offering and augment their future potential.”
Principle chief operating officer, Marcus Fischer, continues: "Whilst based on the traditional pallet network model, our intention is to develop Principle into a unique network within the sector. We are looking to attract like-minded partners from the transport sector, who share our passion for service excellence and vision for profitable growth.”