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Dunedin-backed CitySprint completes sixth acquisition

CitySprint, a UK same day distribution network, has completed its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010.

CitySprint has acquired the same day courier, UK overnight and international operations of Scarlet Couriers.

CitySprint is on track to deliver GBP100m of revenues in 2012.
Nicol Fraser, director at Dunedin who sits on CitySprint board, says: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the 12th by Dunedin portfolio companies in total.”
The CitySprint acquisition follows the recent news that Formaplex has increased its production facilities from 20,000 square feet in 2007 when Dunedin invested, to 135,000 square feet.

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