Private equity firm Lloyds Development Capital (LDC) has bought an undisclosed stake in CitySprint in a deal which values the same-day courier at £175m. CitySprint’s management team remains the biggest shareholder in the business, and its other investor Dunedin has retained a stake in the business, but a spokesman for CitySprint said it “wasn’t as big a stake as it had previously held”. The business said the deal will “accelerate the next stage of its growth”. The deal comes as […]
Ofcom is concerned that Royal Mail could potentially cross-subsidise its parcels operation through its letters business, as its market share and delivery network is much more established in the latter.
Hot on the heels of the launch of a southern hub, Wolverhampton-based pallet network Pallet-Track has officially launched its first Scottish hub.