Parcel Delivery Service Evri Set for £2.7bn Sale to Private Equity Giant Apollo

  • Evri sold to private equity firm Apollo for £2.7bn
  • Investment by Advent International tripled Evri’s size over five years
  • CEO Martijn de Lange excited about partnership with Apollo
  • JD.com considered a potential bid earlier this month

Evri, the parcel delivery service formerly known as Hermes, is set to be sold to private equity firm Apollo for £2.7bn after its owner Advent International invested nearly £200m since purchasing it in 2020. The sale is expected to complete during the first quarter of 2024. Evri CEO Martijn de Lange praised the support from Advent, stating that the business has tripled in size over the last five years and is optimistic about its partnership with Apollo. Earlier this month, JD.com was reportedly considering a potential bid for the company. Advent International has been a prolific investor in the retail sector.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Evri’s sale to Apollo, its growth under Advent International, and CEO Martijn de Lange’s statement on the partnership. It also mentions JD.com’s previous interest in acquiring the company. The only minor detail is the mention of Frasers Group as a prolific investor in retail, which may not be directly related to the main topic but does not affect the overall factuality level significantly.
Noise Level: 3
Noise Justification: The article provides relevant information about Evri’s sale to Apollo and its growth under Advent International’s ownership, as well as mentioning potential interest from JD.com earlier this month. However, it lacks in-depth analysis or exploration of the consequences for stakeholders and does not offer significant actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: The sale of Evri to Apollo impacts private equity firms and the parcel delivery service industry.
Financial Rating Justification: This article discusses the sale of a company (Evri) in the parcel delivery service industry, which is relevant to financial topics as it involves a significant amount of money ($3.4 billion USD) and impacts private equity firms like Advent International and Apollo. The transaction also has an effect on the company’s growth and future direction.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

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