Parcel delivery company Evri is reportedly preparing for a sale valued at £2bn by its private equity majority owner.
Advent International is working with advisers at investment bank Rothschild to explore options for the company, including a possible sale, The Sunday Times reported.
He bought a 75 per cent stake in the company, then known as Hermes UK, for £850m in 2020.
The remaining 25 percent remains in the hands of the German group Otto. In 2022, Evri’s owners earned a dividend of £762 million.
It comes after The Mail on Sunday revealed that Advent was also preparing to sell the last remnants of UK aerospace and defense group Cobham.
Sell-off: Advent International is working with advisers at investment bank Rothschild to explore options for Evri, including a possible sale.
Evri began life as Grattan Mail Order, based in Bradford, in 1974. Like Hermes, it boomed during the pandemic, thanks to the rise in online shopping.
Today, it boasts of delivering more than 700 million packages a year through more than 20,000 couriers.
Revenue for the year to February 2023 was flat on the previous year at £1.46bn, while the company posted a final loss of £77m.
Advent declined to comment on the question of a possible sale.