Aug 14, 2020, 10:30 EST
Bronx, United States, Aug 14, 2020, 10:30 /Comserve / -- Private global equity firm Advent International has agreed to buy a 75% stake in the Hermes UK & Germany functions at an undisclosed price.
London, UK, 12, Aug 2020 - Private global equity firm Advent International has agreed to buy a 75% stake in the Hermes UK & Germany functions at an undisclosed price. Hermes, a leading consumer delivery company is bound to benefit from this investment. Hermes’ parent company Otto made an announcement informing about this partnership which will give Advent a hold over Hermes Group’s businesses in the UK and Germany.
According to the deal, Advent International will be partnering with the current management team of Hermes UK to acquire its 75% stake. Rest 25% stake will remain with the Otto Group. In addition to this 75% stake in Hermes UK, Advent International will also be acquiring a 25% stake in Hermes Germany which further includes other companies of the Hermes Group including BorderGuru and some share in the ParcelLock Joint Venture.
This deal will help in facilitating further investments by the Hermes group in fields of infrastructure and technology. The deal is also anticipated to help and support Hermes in its growth as the parcel delivery sector has been rapidly growing throughout the years. There will be no change in the management team of Hermes UK and they’ll continue to work as they used to earlier, with ‘business as usual’ for its suppliers, customers and employees. Amid the coronavirus pandemic, both its businesses in the UK as well as Germany registered a high growth volume. In 2019-20, Hermes UK and Hermes Germany have reportedly transported more than 760 million parcels together.
This deal comes after a recent announcement by Hermes UK when it said that it was looking to expand its staff as they have been experiencing huge demand because of the on-going pandemic. The firm said that it was looking for more than 10,500 parcel people to join its business because of the demand created by the people who have been shopping from their homes during the lockdown. The number of deliveries has increased drastically since March 2020, when the world went into an extended lockdown to contain the widespread of the Covid-19 virus. In 2017, Advent International bought more than 90% shares of a Poland-based company Integer.pl along with its subsidiary Inpost, a parcel locker company.
About Advent International
Headquartered in Boston, Advent International is a global private equity firm that was found in 1984 and has its presence across North America, Latin America, Asia and Europe. The Company has completed 335 transactions in 41 countries through its buyout programs. It had assets of about USD 51 billions as of 31, March 2020.
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