Hudson Hill Capital has completed the final closing of a single-asset continuation vehicle for InXpress, a global provider of international and domestic logistics solutions. Barings Capital Management and Ardlussa Capital led the transaction. Financial terms were not disclosed.
The continuation vehicle enables Hudson Hill to retain its investment in InXpress while providing existing investors with the option to receive liquidity or continue investing in the company. Hudson Hill and InXpress management rolled all of their proceeds into the new transaction.
Hudson Hill originally acquired a controlling stake in InXpress in 2020. Since then, InXpress system revenue has increased by nearly 200% as the company invested in its carrier relationships, proprietary technology, global training programs, sales enablement, and franchise network.
Founded in the UK in 1999, InXpress connects small and midsize businesses with parcel and freight carriers through its WebShip platform. The company now operates across 14 countries through approximately 450 franchises and serves more than 46,000 customers. Its carrier network includes DHL, UPS, FedEx, and more than 100 freight carriers.
The transaction provides additional capital and ownership continuity as InXpress pursues further international expansion. Barings described InXpress as the last independent, globally operated, franchise-led company in its market.
Quilvest Capital Partners also invested in the transaction. Evercore served as financial advisor to Hudson Hill, while Ropes & Gray served as lead legal counsel and Cleary Gottlieb Steen & Hamilton provided additional legal counsel. Winston Taylor served as lead legal counsel to Barings and Ardlussa.
KEY QUOTES:
“Since we acquired a controlling stake in InXpress in 2020, system revenue has risen by nearly 200%. Now, after five years of significant investment and growth, the company possesses the go-to-market capabilities to accelerate this expansion worldwide. This transaction reflects our long-term mindset when it comes to building businesses and our commitment to InXpress and its leadership team.”
Eric Rosen, Managing Partner and Founder of Hudson Hill Capital
“We are excited to continue our partnership with Hudson Hill and to welcome new investors as InXpress enters the next stage of its growth. Hudson Hill has provided the operational and strategic support needed to expand our carrier relationships, launch new proprietary technologies, deepen the impact of our global training and sales enablement programs, and help our franchisees build their sales teams. The value of these efforts is continuing to compound, and the CV positions us to invest further in the business and advance our long-term strategy in the years to come.”
Clinton Squadroni, Chief Executive Officer of InXpress
“InXpress has built a differentiated, high-quality platform and is now the last independent, globally operated, franchise-led company in the space. We are pleased to support the Company’s continued growth as co-lead investor in the transaction, which reflects our confidence in the platform and the leadership and vision displayed by the Hudson Hill and InXpress partnership.”
Jonathan Hammill, Senior Director of Private Equity Solutions at Barings
“We have followed this business as it has continued to grow, and the investment over the last five years is clearly reflected in the results. InXpress’ next phase is about continuing to scale what already works, and co-leading this vehicle allows us to support the company as it undertakes this journey.”
Jeff Aebischer, Managing Partner of Ardlussa Capital
