The owners of UK parcel delivery company Evri have announced it will sell the company to funds managed by affiliates of Apollo, with the transaction expected to take place in Q3 2024.
Advent International, which acquired Evri in 2020, has invested nearly £200m (US$258m) to create one of the UK’s largest parcel delivery companies, which delivers over 12 million parcels a week to e-commerce shoppers. This investment includes a significant upgrade in technology and £60m (US$77m) on a new automated distribution hub in Barnsley, the largest of its kind in Europe.
Commenting on the sale, James Smith, director at Advent International, said, “We have worked closely with the team at Evri to significantly improve conditions and benefits for its people, as well as its customer offer, operational performance and its path to net zero. The business has grown significantly, having tripled its size over the last five years. Evri is well placed to deliver strong future growth and we wish all of the team there well as they embark on their next phase of development.”
Martijn de Lange, CEO of Evri, added, “The last five years have seen transformative change in our proposition which has allowed us to take full advantage of the positive trends in our markets. With the support of Advent, the business today is in a strong position and momentum is encouraging. We are very excited to be partnering with Apollo and optimistic for what the future holds.”