CitySprint
DUNEDIN, the Edinburgh and London-based private equity investor, has made a 180 per cent return after selling its original investment in same day courier service CitySprint.
Since investing £33.1 million in 2010, the firm has helped CitySprint make 21 acquisitions, creating a nationwide network of 40 service centres and over 3,000 self-employed couriers. Underlying profits have more than doubled over the same period.
The sale, in a secondary management buyout backed by private equity firm LDC, values CitySprint at £175m. Dunedin said it was retaining a minority stake because it sees so much potential in the business.
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