Search Get in touch

Get in touch.

Send us your message
Business Services

Dunedin Backed CitySprint Completes Sixth Acquisition to Consolidate Market Leading Position

By Dunedin,  July 30,2012

CitySprint, the UK’s leading SameDay distribution network, announces the completion of its sixth acquisition since it was backed by Dunedin

CitySprint, the UK’s leading SameDay distribution network, announces the completion of its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010. CitySprint has acquired the SameDay Courier, UK overnight and International operations of Scarlet Couriers, to expand its reach and consolidate its position as the UK’s leading private same day distribution company. CitySprint is on track to deliver £100 million of revenues in 2012.

Nicol Fraser, director at Dunedin who sits on CitySprint board, commented: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the twelfth by Dunedin portfolio companies in total.”

Dunedin’s portfolio companies consistently outperform the markets within which they operate – the CitySprint acquisition follows the recent news that Formaplex has increased its production facilities, as a result of significant organic growth, from 20,000 sq. ft., in 2007 when Dunedin invested, to 135,000 sq. ft.

Under Dunedin’s ownership Formaplex has been transformed from a prototype tooling business into an advanced manufacturing business focused on servicing rapid response, design and support for manufacture in the application of plastics, thermo plastics and composites. During that period employee numbers have increased from 45 to 139 and turnover has quadrupled.

Fraser, who also sits on the Formaplex board said: “The growth in Formaplex is driven by its ability to provide innovation and outstanding service to its clients servicing the rapidly growing plastics and composites market.”

Dunedin’s Nicol Fraser and Oli Bevan worked with the CitySprint team on the acquisition.

More News and Thought Pieces
Dunedin invests in £80m Alpha transaction

Dunedin's investment will assist with Alpha’s continued global expansion into new geographies and new sectors

Read more
Alpha ranked at number 34

Dunedin backed Alpha, a leading global asset and wealth management consulting firm, has been ranked at number 34 in The Sunday Times HSBC International Track 200

Read more
Toby Duthie, FRA

Toby Duthie, named “Investigations Forensic Accountant of the Year” at The Who’s Who Legal Awards 2018

Read more
PR Enquiries

CONTACT
Corinna Vere Nicoll

TEL
+44 (0)7825 326440

Be first to know.

Sign up to get Dunedin updates, thought pieces and insights delivered to your inbox.

Subscribe Now