William Stobart has taken ownership of the APC delivery network (APC) via his holding company WS Holdco.
The parcel delivery network said it had transitioned to the new ownership, made up of Stobart’s company, as well as asset manager DBAY Advisors and investors, and that they now held a majority stake in the business.
It added that the existing legacy and depot shareholders, along with management, will retain a stake.
The APC said it had searched for a partner that would make a long-term investment in the business and recognised “the past successes and future potential of the network”.
Stobart, chief executive of WS Holdco, said: “We are looking forward to working closely with The APC’s management team and network members to bring the passion of their entrepreneurial businesses together to strengthen our service proposition, continuing to support and accelerate the growth of our customers.”
Andy Evans, chairman at the APC, added: “William and the new ownership structure align strongly with the values of The APC and will play a pivotal role in our mission to support sustained growth of both the business and our network.”
Culina Group’s new chief executive Liam McElroy recently told Motor Transport that Stobart’s departure from the business as group CE allowed him an opportunity to “pursue other interests and be enjoying retirement”.
