Clydesdale steps into Dunedin's CitySprint

RBS and Clydesdale have agreed to provide the funding three months after the deal completed. RBS was involved in the deal when it was announced.

The deal is the fourth Dunedin has done through its debt "bridging" facility whereby the buyout is done as an all-equity deal at the outset, with leverage being brought in after completion.

Previous deals using Dunedin's DebtBridging facility are Fernau, which has since been successfully exited, Enrich and Hawksmoor.

Headquartered in London, CitySprint was founded in 2001 and offers same-day delivery services through its national network of 31 centres. Its key services consist of same-day courier, same-day logistics, and international and UK overnight courier, catering for various sectors including healthcare and retail. The company has increased its turnover from £46m in 2007 to a forecast £61m for 2010 and currently employs approximately 350 staff.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Royal Bank of Scotland
• Clydesdale Bank
• Dunedin
• Senior debt