The management team at Derby Express Couriers (Overnight) have completed a management buy-out (MBO).
The Derby-based overnight courier company, which is part of the APC Overnight parcel delivery network, was sold by founding shareholder Nick Taylor to directors Lorraine Sharp and Susan Hill.
“Susan and I are privileged to be able to lead the business to the next stage,” said Lorraine Sharp, who has worked at Derby Express for 12 years. “We take pride in offering a quality and reliable service to all of our customers and are completely committed to keeping our customers and our staff at the heart of all that we do.”
The MBO of the overnight parcel delivery company, who also offer worldwide delivery and next-day pallet services, was funded by ABN AMRO Commercial Finance.
Teresa Geraghty, business development manager of ABN AMRO, said: “It was good to work with the local business community on this excellent opportunity for the management team. It’s always great to be able to provide such a dedicated team with the ongoing working capital they need to move the company forward.”
Taylor was advised by the Midlands-based accountants and business advisors Smith Cooper, who have worked with Derby Express for over 20 years.
“Derby Express Couriers were one of Smith Cooper’s first clients over 20 years ago, our long standing and close knit relationship with both Nick and the business meant that we were able to provide the best advice in order to deliver a successful transaction for Nick.”
The management team were also advised by the Derby office of Dains business advisers and Derby-based lawyers Flint Bishop Solicitors.
APC Overnight has over 120 depots nationwide.
