Dunedin's CitySprint bolts on Bexley

This marks the 21st acquisition since Dunedin acquired CitySprint in 2010, aiming to consolidate the fragmented same-day delivery market. The GP bought CitySprint with capital drawn from Dunedin Buyout Fund II. Three months later it secured a debt package for the business from RBS and Clydesdale.

The Bexley bolt-on follows two other acquisitions earlier this year, CJ's Logistics and Worldwide Logistics and Distribution, two Milton Keynes-based logistics services.

Previous add-ons have averaged at around four to five each year and include CYC Logistics, Dash-It, The Courier Service, Sameday UK and Eagle Express.

unquote" recently explored the current state of affairs in the buy-and-build space – you can read the feature here.

Company
Headquartered in London, CitySprint was founded in 2001 and offers same-day delivery services through its national network of 3,000 couriers. The company generated a £61m turnover at the time of Dunedin's acquisition; although the current figure has not yet been disclosed, revenues had already grown to £113m in 2013.

Founded in 1988, Dartford-based Bexley Couriers offer a range of local and national delivery services.

People
Partner Nicol Fraser sits on CitySprint's board on behalf of Dunedin.

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