International pallet delivery network   |


Date Invested

July 2004





Staffordshire, UK


Richard Daw

Palletways is Europe’s largest and fastest growing network for palletised express freight.  Every day, approximately 40,000 pallets are delivered by Palletways through a pan-European network of 350 members spanning 20 countries. Phoenix spent a year working alongside James Wilson (former divisional CEO of TNT) to identify an attractive investment opportunity, before investing in Palletways.

Our partnership

James Wilson and his team, supported by Phoenix, developed an ambitious expansion plan for Palletways. Additional capital supported the business’s international expansion, and network economics were re-engineered to drive high value cross-border freight and accelerate organic growth. An international management team was also recruited. During the investment period, Palletways was transformed from a UK business into the only pan-European palletised freight network covering 20 countries. In June 2016, Palletways was sold to Imperial Holdings for a total transaction value of £163 million, delivering a 4.3x return on investment.

"Phoenix have a philosophy of involvement without interference and have proved to be the most reliable support team one can imagine.”

James Wilson, CEO, Palletways