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Aug 10 2020

US private equity firm acquires 75 per cent stake in Hermes UK

Otto Group, parent company to Hermes UK, has sold a 75% stake in the parcel carrier to US private equity firm Advent International.

Under the terms of the deal Otto will retain a 25% stake in the UK activities of Hermes Group. Advent will also acquire a 25% stake in Hermes Germany, including its BorderGuru offering and a share in the ParcelLock joint venture.

 

The existing management team at Hermes UK will continue to run the business, and were quick to stress it would be “business as usual”. Read more

 

Source: LOGISTICS MANAGER