- Apollo, Platinum Equity bid for Evri
- Evri auction valued at £2 billion
- Advent owns Evri since 2020
Apollo and Platinum Equity are among the buyout groups fighting to own one of the UK’s most extensive parcel delivery services.
A swarm of trade and private equity bidders surrounds Evri, one of Britain’s largest parcel delivery providers.
According to Sky News, Apollo Global Management and Platinum Equity are among the parties making early proposals for Evri, which is apparently worth over £2 billion.
According to city sources, several significant bidders are also participating in the auction, which is overseen by Rothschild bankers.
Evri, which changed its name from Hermes in 2022, employs over 20,000 couriers and operates a network of over 14,000 ParcelShops and Lockers.
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Several well-known merchants and the online marketplaces Etsy and Vinted utilize it.
Advent International, a private equity firm, has owned the company since 2020, when it acquired it from German mail order giant Otto.
It has an almost 20% share of the UK market and delivers over 700 million items annually.
The auction of Evri comes as Parcelforce’s parent, Royal Mail owner International Distribution Services, is in the process of going private.
Yodel, which narrowly avoided bankruptcy this year, was raising tens of millions of pounds to improve its balance sheet.
Advent declined to comment, while Apollo and Platinum did not respond to requests for comment.
