Private equity firm Advent International is to acquire a 75% stake in Hermes UK in what is described as a “business as usual” agreement. Announced this week, the deal will see German retailer Otto Group sell three quarters of the business to Advent in a deal reportedly worth £900,000. Otto Group will continue to own 25% of the company whilst the management of Hermes UK will continue to lead it as an independent operation, with business continuing as normal for […]
Royal Mail has gone all-in on a strategy based on parcels growth and international expansion to ensure its future, after its annual operating profit collapsed by more than a quarter as the decline in letter deliveries continued apace.
A range of the transport sector’s leading operators have given an optimistic trading forecast for the rest of 2021 and beyond, with many continuing to report soaring volumes.
Expanding the range of services it offers to its customers saw NR Evans’ turnover and pre-tax profit soar in the last financial year.