Dunedin's CitySprint acquires Dash-it

The deal was funded with bank debt, according to a spokesperson for Dunedin. The deal brings the number of acquisitions made by CitySprint's to five this year, and 13 since Dunedin backed the business in 2010.

CitySprint has a fleet of more than 2,500 couriers that operate out of 37 service centres in the UK. Last month CitySprint also completed the acquisition of Bullit Couriers, based in Brighton.

The business recorded turnover of £101m for the year ending 2012, a 36% increase on 2011's £74m. EBITDA increased by 33% over the same period.

BDO provided financial due diligence while Squire Sanders provided legal advice.

Nicol Fraser is a partner at Dunedin and sits on CitySprint's board.

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• Topics
• Portfolio management
• Dunedin
• United Kingdom