The P & M Group have announced the acquisition of Bradford-based HBCL Coldstores, marking a significant strengthening of the company’s presence in the North of England.
The acquisition of HBCL is part of continued and rapid growth at the cold chain solutions specialist P & M, whose major constituent part is cold store expert ISD Solutions.
Group turnover has increased significantly from £58 million in 2024/25 to £88 million in 2025/26. This upward trajectory is expected to continue as the group executes its long-term expansion strategy, mixing organic growth with strategic acquisitions.
The UK cold chain sector is experiencing robust growth, with the logistics market valued at approximately £11.5 billion and projected to grow rapidly in coming years.
Growth is driven by increased e-commerce demand, pharmaceutical logistics and food sector requirements, with the market shifting toward automated, sustainable, and energy-efficient facilities.
HBCL has been in business for almost 25 years, owned and managed by husband and wife Craig and Caroline Lovett. Their relationship with P & M managing director Tony Wall, combined with shared values and reputations, led to the agreement.
Until now operating predominantly in the retail sector, HBCL will retain its branding presence and its 27 staff, while offering the considerable expertise, resources, customer base and supplier network that P & M has to offer.
Craig Lovett will remain with the business continuing in his role of managing director.
Mr Lovett said: “We are delighted to announce the acquisition by the market leader in our industry. Jointly we envisage a stronger market presence while maintaining our values and service levels.
“The sale came after thoughtful consideration of how best to ensure HBCL’s future success and we felt that The P&M Group were a great fit for us, with similar values, shared expertise and a united vision which will ensure a seamless transition with no disruption to daily operations.”
Tony Wall said: “HBCL have been in business for almost 25 years and many of our staff are already familiar with the company and the Lovett family.
“Personally, Craig and I have known each other for many years and it is this long-standing relationship that has led him and Caroline to join forces with us and add their business to our growing group of companies.
“We are also delighted to confirm that Craig will be remaining with the business and is excited about becoming part of our company as we move forward together.”
The acquisition was self-funded by The P & M Group and administered using the support of B Corp certified legal firm Brabners, as well as accountants Azets.
Katherine Broadhurst, corporate finance partner at Azets, said: “We are pleased to have supported The P & M Group with financial due diligence in relation to the latest acquisition for the group.
“This is another step in the group’s strategy, and will provide HBCL Coldstores Limited with a strong platform for future growth. We look forward to continuing to support both companies going forward to further success.”
