Evri private equity owner Advent preparing £2bn sale of delivery firm


Parcel delivery firm Evri is reportedly being prepared for a sale valuing it at £2billion by its private equity majority owner.

Advent International is working with advisers from investment bank Rothschild to explore options for the company, including a potential sale, The Sunday Times reported.

It bought a 75 per cent stake in the company, then known as Hermes UK, for a reported £850m in 2020. 

The other 25 per cent remains in the hands of Germany’s Otto group. In 2022, Evri’s owners extracted a £762m dividend. 

It comes after The Mail on Sunday revealed that Advent was also preparing to sell off the last remnants of UK defence and aerospace group Cobham.

Sell-off: Advent International is working with advisers from investment bank Rothschild to explore options for Evri, including a potential sale

Sell-off: Advent International is working with advisers from investment bank Rothschild to explore options for Evri, including a potential sale

Evri began life as Bradford-based Grattan Mail Order in 1974. As Hermes, it saw a boom during the pandemic, thanks to a surge in online shopping. 

Today, it boasts of delivering more than 700m parcels a year via more than 20,000 couriers.

Revenues for the year to February 2023 were flat on the year before at £1.46billion, while the company swung to a bottom line loss of £77m.

Advent declined to comment on the issue of a potential sale.



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