H.I.G. Capital – a leading global alternative asset investment firm with $60 billion of capital under management – announced that one of its affiliates has completed the public-to-private acquisition of DX Group plc, which was previously listed on the London Stock Exchange’s AIM market, for an aggregate consideration of £307 million.
Based in Slough, DX is a provider of a range of specialist delivery services to business and residential addresses across the United Kingdom and Ireland. And the company is engaged in the provision of last mile delivery solutions, including parcel, freight, secure, courier, and logistics services.
KEY QUOTES:
“We have been impressed with DX’s growth trajectory underpinned by the supportive market trends, as well as the Company’s commitment to high customer service levels. We believe H.I.G. is the ideal partner to support the management team in the next phase of its growth.”
– Tobias Borkowski, Managing Director on the H.I.G. Europe Private Equity team
“We are delighted to have the opportunity to invest in DX. H.I.G. has had great success investing in logistics businesses, and we will use this experience to help the management team accelerate the expansion of the company.”
– Markus Noe-Nordberg, Managing Director and Head of the H.I.G. Europe Middle Market Private Equity team
“It is with great pride and enthusiasm that the entire management team, and I welcome H.I.G. as our new partner. I am very excited to work with the team at H.I.G. to capitalise on the enormous potential we have within the UK and Ireland. We are well positioned to continue pushing forward with our plans for growth and to further capitalize on our leading position in the IDW segment, with additional significant opportunities in our 2-Man, Logistics and Express Parcels divisions.”
– Paul Ibbetson, CEO of DX
