The share price of Xpediator (LON: XPD) is climbing on Friday after it announced a strategic partnership with the Northampton-based e-Commerce fulfilment expert, Synergy Retail Support Limited.
Synergy provides B2C and B2B fulfilment and e-commerce returns services from its 148,000 sq ft warehouse in Northampton.
Synergy's Northampton warehouse is close to full capacity. Under the new partnership, Synergy will utilise the currently vacant space in Xpediator's warehouse in Braintree to expand.
Some of Synergy's clients have taken space in Braintree, with discussions underway for further clients to utilise space.
Xpediator said it is looking to establish a “significant presence” in E-commerce fulfilment, which it describes as a “specialist and technology led area of the logistics market.”
Robert Ross, Chief Executive of Xpediator, said: “Synergy is a great business with strong management and an excellent technology-led product offering. Its client list speaks for itself and we are very pleased to have agreed this partnership which has already started to generate revenues for both companies. We are looking forward to maximising the potential for our Braintree warehouse and then looking beyond that, to see where else we might collaborate for mutual advantage.”
Xpediator's share price is currently trading at 79p, up 2.27% fo far on Friday.
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Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.