Specialising in irregular dimensions and weights (IDW) logistics, DX Group has seen a revival in fortunes in recent years, both in its core business and as a result of diversifying into other service areas. The result, prior to its recent public-to-private acquisition, was an underlying operating profit of close to £35m for the year 2023-24.
Chief Financial Officer David Mulligan says he is positive about “a new chapter” for the business after it was taken private by US private equity firm HIG in January 2024. “We’ve experienced significant growth in the past four or five years,” says David, “and the outlook is for a robust trading performance for our IDW business. Retail customers are beginning to trust firms like DX to run logistics for them – it’s certainly a cost-effective solution for them, without diluting their own brand."
Working with Barclays
It’s been a good experience working with Barclays – they’ve supported us along our turnaround journey and then through our recent acquisition.
Chief Financial Officer, DX Group
DX Group has been able to rely on Barclays during a period in which the business has successfully transformed its financial performance. “By focusing on customer service and investing in the right tools, DX has strengthened its position in IDW logistics and has also begun diversifying into other services too, so it’s been invaluable to have the right banking partner.
A successful family-owned business, Priority Freight has seen revenues suppressed a little over the past two years as a result of prevailing economic conditions, but Chief Quality Officer Andrew Austin says its market share is still increasing as it adds new customers and new locations across the UK and Europe.
Specialising in automotive industry logistics, Andrew expects continued growth in the business largely due to increasing global demand for cars.
He adds: “We’re already one of the largest emergency automotive freight firms in Europe – and now we’re working to further grow our global footprint.”
Working with Barclays
I've worked with all the banks during my career and Barclays is right up there in terms of their ability to stay in touch with and listen to their customers.
Chief Quality Officer, Priority Freight
As it approaches its 30th anniversary, Priority Freight’s operations in the UK and across continental Europe now generate revenues approaching £200m a year. “Barclays has proved to be a banking partner that has significantly helped us fuel and fund our business journey.
“We also value the bank as an honest broker – we all need that external party coming along with an objective view and Barclays, among all banks, have their ears to the ground when it comes to logistics industry opportunities and challenges.”
Fourth generation family-run regional haulier Welch Group may have been founded 90 years ago, but it’s certainly focused on securing its future by becoming an early adopter of electric vehicle (EV) technology as it begins the journey to decarbonise its fleet.
With three depots in Cambridgeshire and Bedfordshire, the £17m-turnover business began running a 19-tonne rigid EV in 2023 and installed the first HGV-accessible supercharger in the country the same year.
With government funding as part of the £200m zero emission HGV and infrastructure demonstration (ZEHID) project, Welch has ordered two 42-tonne articulated EVs and will be building high-power charging hubs at two of its depots.
On the importance of undertaking the journey to decarbonisationm Chris says, “it's about making the business sustainable over the long term, reaping the rewards for our family and providing local people with a good place to work”.
Working with Barclays
We’ve worked with Barclays for 90 years, which I think is the best testament to the relationship. Banking has changed in that time, but Barclays has evolved too, providing us now with solutions that are efficient and plugged into modern technology.
Group Managing Director, Welch Group
Four generations of the Welch family have experienced the benefit of partnering their logistics business with Barclays and most recently that has included the easy functionality of online banking: “Day-to-day processes and things like authorising wages are really straightforward. There's nothing that creates barriers with these easy-to-use solutions – Barclays simply don't give you a reason to want to use anyone else.
“Technology might be making everything look very digital, but we still get that personal touch from Barclays with our own account manager popping in for a chat or being available to us at the end of the phone.”
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