Parcel delivery firm Evri is reportedly being prepared for a sale valuing it at £2billion by its private equity majority owner.
Advent International is working with advisers from investment bank Rothschild to explore options for the company, including a potential sale, The Sunday Times reported.
It bought a 75 per cent stake in the company, then known as Hermes UK, for a reported £850m in 2020.
The other 25 per cent remains in the hands of Germany’s Otto group. In 2022, Evri’s owners extracted a £762m dividend.
It comes after The Mail on Sunday revealed that Advent was also preparing to sell off the last remnants of UK defence and aerospace group Cobham.
Sell-off: Advent International is working with advisers from investment bank Rothschild to explore options for Evri, including a potential sale
Evri began life as Bradford-based Grattan Mail Order in 1974. As Hermes, it saw a boom during the pandemic, thanks to a surge in online shopping.
Today, it boasts of delivering more than 700m parcels a year via more than 20,000 couriers.
Revenues for the year to February 2023 were flat on the year before at £1.46billion, while the company swung to a bottom line loss of £77m.
Advent declined to comment on the issue of a potential sale.
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