H.I.G. Capital (“H.I.G.”), a global alternative asset investment firm with US$60 billion of capital under management, has announced that one of its affiliates has completed the public-to-private acquisition of DX Group plc (“DX”), previously listed on the London Stock Exchange’s AIM market, for an aggregate consideration of £307 million.
Based in Slough, DX provides a range of specialist delivery services to business and residential addresses across the UK and Ireland. This spans last-mile delivery solutions, including parcel, freight, secure, courier, and logistics services.
Tobias Borkowski, managing director on the H.I.G. Europe Private Equity team, commented: “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.”
Paul Ibbetson, CEO of DX, added: “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.”
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