CitySprint, the UK’s leading distribution network company, has acquired Sameday UK, its eighth acquisition since it was backed by UK mid-market private equity house Dunedin, in December 2010.
The acquisition will expand CitySprint’s scale and reach, providing Sameday UK’s customers with an enhanced service through CitySprint’s 2,500 plus couriers and network of 37 UK service centres.
Nicol Fraser, partner at Dunedin who sits on CitySprint’s board, commented: "This is the eighth acquisition that CitySprint has made since we backed the business in late 2010 and its second within the last six months. It further strengthens the company's position as the UK's leading private same day distribution company and puts the business on track to deliver strong growth on the £100 million of revenue delivered in 2012.”
“The acquisition also demonstrates Dunedin's commitment to supporting the growth of our investee companies. We have completed a total of 15 portfolio acquisitions since 2011 and this remains one of the key ways we can support management teams in increasing the value of their businesses."
Patrick Gallagher, chief executive of CitySprint said: “This deal marks yet another important step forward in our growth strategy. We are the UK’s leading private same day distribution company and we plan to keep increasing our reach through local acquisitions in order to ensure that we can offer our customers the best possible service.”
The acquisition of Warrington based Sameday UK will consolidate CitySprint’s position as the UK’s leading private same day distribution company. CitySprint has acquired all of Sameday UK’s operations, which includes a local and national customer base. In addition, customers will benefit from CitySprint’s investment in leading-edge technology such as its national, live courier-tracking system and automated status notifications.
In the last year Dunedin has delivered three strong exits as well as the £34.5 million management buyout of Premier Hytemp. Dunedin has also been committed to supporting the growth of its portfolio companies and has completed a total of 15 portfolio acquisitions since the end of 2011.