CitySprint strikes again in Dash-it deal

 
28 October 2013

CitySprint, the delivery specialist whose vans and motorbikes can be seen darting across London throughout the day, today snapped up rival Dash-it.

The private-equity backed group has completed its fifth acquisition of the year to boost the fleet of 2,500 self-employed couriers it claims can deliver to 80% of the UK within an hour.

The company would not disclose the value of the takeover, although it is understood to have spent about £4 million on the deal to improve its overnight delivery services.

Patrick Gallagher, chief executive, said: “Our business continues to deliver double-digit, year-on-year organic growth. This latest acquisition is an exciting development for us and presents another new market opportunity of some size to our group.”

CitySprint was founded in 2001 and handles about 5 million deliveries a year. It has now made 13 acquisitions since receiving an undisclosed investment from buyout firm Dunedin in 2010.

The company grew its turnover by 36% to £101 million last year.

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