Whistl has completed its management buyout deal (MBO) from former parent company Post NL.

The MBO was announced in July, when Post NL announced it would retain just 17.5% of the company, as opposed to the 100% it held until now, giving Whistl control of the remaining 82.5%.

When the deal was announced, Whistl chief executive Nick Wells said it would give the company, formerly known as TNT Post, more freedom in its approach to the UK mail market.

He said: “Through a management led company, Whistl will continue to build upon its entrepreneurial heritage.  We will continue to challenge, innovate and provide great service to customers, whilst retaining the support of PostNL.”