PriestleySoundy is advising the Senior Management Team of Hermes UK on their incentive arrangements in connection with the acquisition of a majority stake in their business by Advent International. Advent International is partnering with the Senior Management Team to acquire a 75% stake in Hermes UK. Otto Group will continue to own 25% of the company. The deal is reported to value the business at €1bn.
Hermes UK is one of the UK’s leading consumer delivery companies, successfully delivering over 400 million parcels a year on behalf of many of Europe’s leading retailers.
The transaction will facilitate further investment by Hermes UK in technology and infrastructure and support the future growth of the business in the rapidly growing parcel delivery sector.
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries and, as of 31st March 2020, had €44bn in assets under management.
Advent International is being advised by Kirkland & Ellis, and Otto Group is being advised by Milbank.
10th August 2020
