PriestleySoundy advised Martijn de Lange (CEO) and his Senior Management Team in connection with the realisation by Advent International and Otto Group of their investment, and the acquisition by Apollo-managed funds of a majority stake, in EVRi. Financial terms were not disclosed.
EVRi is one of the UK’s largest parcel delivery companies, reaching nearly every household in the UK and, on average, serving more than 12 million customers per week (including major retailers such as John Lewis, Next and ASOS). Advent invested nearly £200 million in the business, involving a significant upgrade in technology and £60 million on a new automated distribution hub in Barnsley.
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 420 private equity investments across 43 countries and, as of 31st December 2023, had $94 billion of assets under management.
Apollo is a high-growth, global alternative asset manager. The firm’s private equity business has a long track record spanning more than 30 years and significant experience in the transportation and logistics space. As of 31st March 2024, Apollo had approximately $671 billion of assets under management.
PriestleySoundy previously advised Martijn de Lange and his Senior Management Team in 2020 when Advent International acquired a majority stake in the business.
Advent International were advised by Kirkland & Ellis. Otto Group were advised by Milbank. Apollo were advised by Sidley Austin.
23 August 2024
