£55m container deal

RUSSELL DAVIES, Britain's biggest private container haulage company, has been sold to Securicor, the security and transport business, for £55m.

The deal, signed at midnight on Friday, is Securicor's first venture into the European container market. It will make the company one of the largest players on the Continent. The purchase will add £100m a year to turnover in its transportation division.

Ipswich-based Russell Davies, founded 21 years ago by brothers Glyn and Ron Davies, runs Britain's biggest fleet of containers and manages fleets for other companies.

The Davies brothers are expected to stay on with the company, although the capacity in which they will be working has not been announced.

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