Lloyd Dunn has been appointed CEO of DX Group, which has secured £24m from investors to get the business back on track. Former Tuffnell’s chief executive Dunn has put £5m into the business in the form of a loan note. DX Group’s largest shareholder Gatemore Capital Management has put forward £11m, including the £2m unsecured loan that was announced last month, and Hargreaves Hale £7.5m, all in the form of loan notes. The loan notes can, subject to shareholder approval, […]
DX Group’s new management team said last week that its turnaround strategy was gathering pace at the embattled business.
Tuffnells relationship with TIP continues to blossom, with the rental and leasing firm supplying a batch of new trailers as well as handling a major de-fleet programme for the parcels firm.
DX Group has come out of the red to deliver pre-tax profit of £1.7m, aided by “very strong growth” in its freight division.