CitySprint has denied claims that it is up for sale after a news report speculated that its parent company is preparing to sell the firm.
Sky News today published a story suggesting that private equity firm and CitySprint parent Dunedin, which provided financial backing for its management buyout in 2010, had hired advisors to undertake a review of its shareholding in the same-day courier firm.
The story claimed that a sale or other means of exit are likely to be made.
A CitySprint spokesman told The Hub it is not up for sale and said it is "business as usual" for the company.
In a statement circulated to staff today, CitySprint chief executive Patrick Gallagher, said: “The story Sky News thought was newsworthy was around speculation about our strategy with our private equity partner Dunedin. We are now entering the 5th year, it has been a partnership that has seen us invest in new capabilities and grow our business through acquisition and investment in technology.
“As a result we are always exploring strategic options that will contribute to the ongoing success of CitySprint, our clients and our people. Dunedin maintains a similar view on its investments and it’s this proactivity that has made them such a strong partner."
Gallagher continued: "As such let me be clear, our growth strategy remains the same – to continue to innovate and be the trusted partner of our clients. The management team remain firmly focused on the continued growth and success of the business - we have so much more to achieve together."
Gallagher said he was not surprised that the parcel delivery sector has been in the spotlight recently, following the collapse of rival City Link on Christmas Eve.
Of the City Link administration, Gallagher said: “Thankfully we’re very different businesses – a fact that is well understood by the press and our customers.”
The courier firm added a 40th depot to its network in November with the acquisition of London-based CYC Logistics.