A number of prominent trade and private equity suitors have expressed interest in Evri, one of the largest parcel delivery companies in Britain. Initial offers for the company, which is reportedly valued at around £2bn, have been submitted by Apollo Global Management and Platinum Equity, among others. According to sources in the city, several strategic bidders are also participating in the auction, which is being managed by Rothschild bankers.
Formerly known as Hermes, Evri boasts a network of over 14,000 ParcelShops and lockers and utilizes the services of more than 20,000 couriers. Its clientele includes prominent retailers and popular online platforms such as Etsy and Vinted. The company has been under the ownership of private equity group Advent International since 2020, when it was acquired from German mail order company Otto. With a market share of nearly 20%, Evri delivers over 700m parcels annually in the UK.
In other business news, it was reported that Blackstone has acquired a stake in Theatreland giant ATG, while steelworkers are preparing to hold their first UK strike in 40 years. Additionally, four members of Britain’s richest family have been sentenced to jail terms.
The auction of Evri comes at a time when International Distribution Services, the parent company of Parcelforce, is in the process of being taken private. On Friday, it was revealed that Yodel, which narrowly avoided collapse earlier this year, is raising tens of millions of pounds to strengthen its balance sheet.
When approached for comment, Advent declined, while Apollo and Platinum did not respond to requests for statements.