CitySpring, which is backed by Dunedin, has closed its buy of UK-based Bexley Couriers, a delivery services provider. No financial terms were disclosed.
London, 30 October 2015 – CitySprint has completed the acquisition of Dartford-based Bexley Couriers, building on its position as the largest privately owned same day distribution company in the UK. This brings the number of acquisitions made by CitySprint to twenty-one, since it received investment from UK mid-market private equity firm Dunedin in 2010. It follows the acquisition of two Milton Keynes based logistics operations, CJ’s Logistics and Worldwide Logistics and Distribution, which took place earlier this year.
Since its establishment in 1988, Bexley Couriers’ diverse fleet has offered a range of local and national delivery services. The acquisition further strengthens CitySprint’s regional network, whilst giving Bexley Couriers’ customers access to CitySprint’s unrivalled network of 3,000 couriers, which can reach 88% of the UK mainland population in under one hour.
Nicol Fraser, partner of Dunedin who sits on CitySprint’s board commented:
“Dunedin has worked alongside the management team to drive the rapid growth of CitySprint over the last five years, cementing its position as the UK market leader in same-day delivery. The twenty-first acquisition is an important milestone in the company’s development and we see exciting opportunities ahead to further increase the scale of what is a unique business in its sector.”
Patrick Gallagher, Chief Executive of CitySprint commented: “This acquisition strengthens our regional network and our commitment to providing the best delivery service in the UK and we remain dedicated to further building on our market-leading position.”
About Dunedin (www.dunedin.com)
Dunedin is a UK mid-market private equity investor targeting buyouts of market leading companies in the UK with a deal size of £20m to £100m. Dunedin typically invests between £20m and £50m in its portfolio companies.
Dunedin focuses on a number of sectors, using its depth of knowledge to understand the market drivers and to build relationships with management teams, key industry participants and influencers. The firm has enjoyed particular success in the industrial, business services and financial services sectors. Dunedin has also funded 35 acquisitions from its second and third funds, driving the growth and internationalisation of its investee businesses.
Located in Edinburgh and London, Dunedin has a new investment team comprising seventeen investment professionals with approximately 200 years of private equity experience between them.
Dunedin LLP is a limited liability partnership authorised and regulated by the Financial Conduct Authority.