Private Equity Firm Apollo Buys UK Parcel Delivery Service Evri (Hermes UK) from Private Equity Firm Advent International at $3.4 Billion Valuation, Advent Sells 75% Shareholding & Otto Group Sells 25% Shareholding to Apollo
28th July 2024 | Hong Kong
Private equity firm Apollo’s funds has announced to buy UK parcel delivery service Evri (Previously known as Hermes UK) from private equity firm Advent International at $3.4 billion valuation (GBP 2.7 billion), with Advent selling 75% shareholding & Otto Group selling 25% shareholding to Apollo’s funds. Evri – Evri was launched in March 2022 following a rebrand from Hermes UK. The group history started in 1974 as Grattan Mail Order, with home delivery service launched. In 1999, Grattan and Freeman’s Catalogue Company merged their delivery infrastructures to become Parcelnet. In 2008, Parcelnet rebranded as Hermes Parcelnet Ltd as it formed closer links with its sister company in Germany.
“ Private Equity Firm Apollo Buys UK Parcel Delivery Service Evri (Hermes UK) from Private Equity Firm Advent International at $3.4 Billion Valuation, Advent Sells 75% Shareholding & Otto Group Sells 25% Shareholding to Apollo “
Evri – Evri was launched in March 2022 following a rebrand from Hermes UK. The group history started in 1974 as Grattan Mail Order, with home delivery service launched. In 1999, Grattan and Freeman’s Catalogue Company merged their delivery infrastructures to become Parcelnet. In 2008, Parcelnet rebranded as Hermes Parcelnet Ltd as it formed closer links with its sister company in Germany.
Private Equity Firm Apollo Buys UK Parcel Delivery Service Evri (Hermes UK) from Private Equity Firm Advent International at $3.4 Billion Valuation, Advent Sells 75% Shareholding & Otto Group Sells 25% Shareholding to Apollo
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