Bullet Express has been acquired in a management buyout led by its MD John McKail, just days after announcing it had launched a new air cargo transport service, writes Chris Tindall.
The company said the multi-million pound deal was backed by Panoramic Growth Equity and Maven Capital Partners.
Its founders, cousins David McCutcheon and Gary Smith, will step down from the board and assume advisory roles to support the transition.
Bullet Express said both will retain shares in the business.
John McKail becomes group chief executive and shareholder, supported by the existing directors Bridget Mackay, William Herron and Martin Craghill.
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