Arle floats DX Group

The flotation is expected to value DX at £200m; Arle will be selling its entire holding in the IPO, which will generate a return of 2x for the GP.

Zeus Capital is acting as financial adviser and Nomad as broker to the company.

Previous investment
Arle first invested in the company in December 2009, inheriting its interest from Candover. Candover delisted DX in July 2006, paying £4.15 per share, valuing the company at £348.7m. In April 2010, Arle injected £15m into the business, enabling a capital refinancing and management buy-in. Arle also supported the company's acquisition of Nightfreight in 2012.

Company
Established in 1975, DX is a logistics and parcel distribution company operating throughout the UK and Ireland. The company services both public and private sector organisations. It provides next-day delivery services for mail and parcels. DX handles 170 million deliveries each year.

People
Petar Cvetkovic is CEO of DX.

Advisers
Company - White & Case (Legal).

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