Apollo Funds to Acquire Evri, a Leading UK Parcel Delivery Company, from Advent International
Apollo (NYSE: APO) has announced that Apollo-managed funds will acquire Evri, one of the UK's largest parcel delivery companies, from Advent International. Evri, which rebranded in 2022, has become a key leader in parcel delivery, serving an average of 12 million customers per week and reaching nearly every UK household. The company is known for its innovative model, technology, and infrastructure designed for reliable, lower emissions delivery in the e-commerce market.
Apollo Private Equity Partner Alex van Hoek expressed enthusiasm about partnering with Evri's management team to support the company's continued success and expansion. Evri CEO Martijn de Lange highlighted the company's transformative changes and focus on on-time delivery and environmental responsibility. The transaction is expected to close in the third quarter of 2024, with financial terms undisclosed.
Apollo (NYSE: APO) ha annunciato che i fondi gestiti da Apollo acquisiranno Evri, una delle più grandi aziende di consegna pacchi del Regno Unito, da Advent International. Evri, che ha cambiato nome nel 2022, è diventata un leader chiave nella consegna di pacchi, servendo in media 12 milioni di clienti a settimana e raggiungendo quasi ogni famiglia britannica. L'azienda è nota per il suo modello innovativo, tecnologia e infrastruttura progettati per una consegna affidabile e con minori emissioni nel mercato dell'e-commerce.
Il Partner di Apollo Private Equity, Alex van Hoek, ha espresso entusiasmo per la collaborazione con il team di gestione di Evri per supportare il continuo successo e l'espansione dell'azienda. Il CEO di Evri, Martijn de Lange, ha messo in evidenza i cambiamenti trasformativi dell'azienda e l'attenzione alla consegna puntuale e alla responsabilità ambientale. La transazione dovrebbe chiudersi nel terzo trimestre del 2024, con condizioni finanziarie non rivelate.
Apollo (NYSE: APO) ha anunciado que los fondos gestionados por Apollo adquirirán Evri, una de las empresas de entrega de paquetes más grandes del Reino Unido, de Advent International. Evri, que se rebrandió en 2022, se ha convertido en un líder clave en la entrega de paquetes, sirviendo a un promedio de 12 millones de clientes por semana y alcanzando casi todos los hogares del Reino Unido. La empresa es conocida por su modelo innovador, tecnología e infraestructura diseñados para la entrega confiable y con menores emisiones en el mercado de comercio electrónico.
El socio de Apollo Private Equity, Alex van Hoek, expresó su entusiasmo por asociarse con el equipo de gestión de Evri para apoyar el continuo éxito y expansión de la empresa. El CEO de Evri, Martijn de Lange, destacó los cambios transformadores de la empresa y su enfoque en la entrega puntual y la responsabilidad ambiental. Se espera que la transacción se cierre en el tercer trimestre de 2024, con términos financieros no revelados.
Apollo (NYSE: APO)는 Apollo가 관리하는 펀드가 Advent International로부터 영국 최대의 소포 배달 회사 중 하나인 Evri를 인수한다고 발표했습니다. 2022년에 리브랜딩한 Evri는 소포 배달의 주요 리더로 자리매김했으며, 주당 평균 1200만 고객에게 서비스를 제공하고 거의 모든 영국 가구에 도달하고 있습니다. 이 회사는 전자상거래 시장에서 신뢰할 수 있고 배출이 적은 배달을 위해 설계된 혁신적인 모델, 기술 및 인프라로 유명합니다.
Apollo Private Equity의 파트너 Alex van Hoek는 Evri 경영진과 협력하여 회사의 지속적인 성공과 확장을 지원하게 되어 기쁘다고 표현했습니다. Evri의 CEO Martijn de Lange는 회사의 혁신적인 변화와 제 시간에 배달 및 환경 책임에 대한 초점을 강조했습니다. 이 거래는 2024년 3분기에 종료될 것으로 예상되며, 재무 조건은 공개되지 않았습니다.
Apollo (NYSE: APO) a annoncé que les fonds gérés par Apollo acquériront Evri, l'une des plus grandes entreprises de livraison de colis au Royaume-Uni, d'Advent International. Evri, qui a changé de marque en 2022, est devenu un acteur clé de la livraison de colis, servant en moyenne 12 millions de clients par semaine et atteignant presque chaque foyer britannique. L'entreprise est connue pour son modèle innovant, sa technologie et son infrastructure conçus pour une livraison fiable et à faibles émissions sur le marché du commerce électronique.
Le partenaire d'Apollo Private Equity, Alex van Hoek, a exprimé son enthousiasme à l'idée de s'associer à l'équipe de direction d'Evri pour soutenir le succès continu et l'expansion de l'entreprise. Le PDG d'Evri, Martijn de Lange, a souligné les changements transformateurs de l'entreprise et son engagement en faveur de la livraison à temps et de la responsabilité environnementale. La transaction devrait se finaliser au troisième trimestre 2024, les conditions financières restant non divulguées.
Apollo (NYSE: APO) hat angekündigt, dass die von Apollo verwalteten Fonds Evri, eines der größten Paketlieferunternehmen im Vereinigten Königreich, von Advent International übernehmen. Evri, das sich 2022 umbenannt hat, hat sich zu einem schlüsselnden Akteur in der Paketlieferung entwickelt und bedient durchschnittlich 12 Millionen Kunden pro Woche und erreicht nahezu jedes britische Haushalts. Das Unternehmen ist bekannt für sein innovatives Modell, Technologie und Infrastruktur, die für zuverlässige und emissionsarme Lieferungen im E-Commerce-Markt ausgelegt sind.
Der Partner von Apollo Private Equity, Alex van Hoek, äußerte seine Begeisterung über die Partnerschaft mit dem Management-Team von Evri, um den anhaltenden Erfolg und die Expansion des Unternehmens zu unterstützen. Evri-CEO Martijn de Lange hob die transformierenden Veränderungen des Unternehmens und den Fokus auf pünktliche Lieferung und Umweltverantwortung hervor. Der Abschluss der Transaktion wird im dritten Quartal 2024 erwartet, während die finanziellen Rahmenbedingungen nicht offengelegt wurden.
- Acquisition of Evri, a leading UK parcel delivery company, expanding Apollo's portfolio in the logistics sector
- Evri serves an average of 12 million customers per week, indicating a strong market presence
- Evri's innovative model and infrastructure are purpose-built for reliable, lower emissions delivery in the growing e-commerce market
- Apollo's extensive experience in logistics and transportation could provide valuable support for Evri's growth
- Financial terms of the acquisition were not disclosed, limiting transparency for investors
- Integration challenges and costs associated with the acquisition may impact short-term performance
Insights
Apollo's acquisition of Evri from Advent International marks a significant move in the UK's parcel delivery sector. As a Financial Analyst, I see this as a strategic play by Apollo to capitalize on the booming e-commerce market. Evri's reach to nearly every UK household and its service to over 12 million customers weekly underscore its market penetration.
While financial terms weren't disclosed, this deal likely represents a substantial investment given Evri's market position. The acquisition aligns with Apollo's track record in logistics and transportation, potentially allowing for synergies with other portfolio companies. Investors should note that this move could strengthen Apollo's revenue streams in the lucrative last-mile delivery segment.
The timing of this acquisition is particularly interesting, coming just two years after Evri's rebranding. This suggests rapid growth and value creation under Advent's ownership, which Apollo now aims to accelerate. The expected closing in Q3 2024 indicates a relatively smooth regulatory pathway, which is positive for deal certainty.
For Apollo shareholders, this acquisition represents a diversification of the firm's portfolio and an entry into a high-growth sector. However, investors should monitor integration costs and any potential short-term impact on Apollo's financials. Long-term, if executed well, this could be a significant value driver for Apollo.
As a Market Research Analyst, I find Apollo's acquisition of Evri particularly intriguing from a market dynamics perspective. The UK parcel delivery market has been experiencing robust growth, driven by the e-commerce boom and Evri's position as one of the largest players makes it a valuable asset.
Evri's differentiated last-mile delivery model and focus on environmentally responsible practices align well with current market trends. Consumers are increasingly demanding faster, more reliable deliveries with a lower carbon footprint. Evri's purpose-built infrastructure for e-commerce parcels positions it favorably in this evolving landscape.
The mention of Evri's 'innovative model' and 'technology' suggests potential for market disruption. This could lead to increased competition in the sector, potentially pressuring incumbent players to innovate or risk losing market share. Investors in other logistics companies should pay close attention to how this acquisition might shift the competitive dynamics.
Moreover, Apollo's expertise and capital injection could accelerate Evri's expansion plans. This might include geographic expansion beyond the UK or diversification into adjacent services, potentially reshaping the broader European logistics market. The partnership could also drive technological advancements in the sector, setting new industry standards for efficiency and sustainability.
From a Tech Expert perspective, Apollo's acquisition of Evri presents intriguing technological implications for the parcel delivery industry. Evri's 'technology and infrastructure purpose-built for reliable, lower emissions delivery' suggests a significant investment in cutting-edge logistics technology.
The emphasis on an 'innovative model' likely involves advanced route optimization algorithms, real-time tracking systems and possibly the integration of AI for predictive analytics. These technologies are important for improving delivery efficiency and reducing costs in the competitive e-commerce delivery space.
Evri's focus on lower emissions aligns with the growing trend of green technology in logistics. This could involve electric or hybrid delivery vehicles, smart packaging solutions, or advanced warehouse automation to reduce energy consumption. Apollo's resources could accelerate the development and deployment of these eco-friendly technologies, potentially setting new industry standards.
The mention of Evri's ability to efficiently scale while maintaining focus on on-time delivery indicates robust backend systems and scalable cloud infrastructure. This technological foundation will be important for handling peak periods and future growth.
As Apollo takes over, we might see increased investment in emerging technologies like drone deliveries, autonomous vehicles, or blockchain for supply chain transparency. These could be game-changers in the industry, offering Evri a significant competitive advantage and reshaping the future of parcel delivery.
NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have entered into a definitive agreement with Advent International to acquire Evri, one of the UK’s largest parcel delivery companies.
Since relaunching as Evri in 2022, the company has grown to become a key leader in parcel delivery, with a strong national network purpose-built for third-party e-commerce parcels and a differentiated last-mile delivery model. Today, Evri reaches nearly every household in the UK and, on average, serves more than 12 million customers per week.
Apollo Private Equity Partner Alex van Hoek said, “Evri has built an enviable position in parcel delivery, with an innovative model, technology and infrastructure purpose-built for reliable, lower emissions delivery in the fast-growing e-commerce market. We are delighted to partner with Martijn and the management team to support and invest in Evri’s continued success and expansion as an Apollo fund portfolio company.”
Evri CEO Martijn de Lange said, “We are incredibly proud of the transformative changes that have enabled Evri to efficiently scale while maintaining our focus on on-time delivery and an environmentally responsible model. We want to thank the team at Advent for their partnership over the past five years and providing the business with a strong foundation for continued expansion. In this next chapter we are excited to partner with the Apollo team to execute on the compelling growth opportunities we see ahead.”
“There is strong momentum in Evri’s business and we are excited to leverage our capital and experience in logistics and transportation to serve as value-add partners in this next phase,” added Apollo’s Michael Saffer.
Apollo’s private equity business has a long track record spanning more than 30 years and significant experience in the transportation and logistics space.
The Evri transaction is expected to close in the third quarter of 2024. Financial terms are not disclosed. Sidley Austin LLP is serving as legal counsel to the Apollo Funds.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2024, Apollo had approximately
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com / EuropeanMedia@apollo.com
FAQ
When is Apollo (APO) expected to complete the acquisition of Evri?
How many customers does Evri serve on average per week?
What is Evri's market position in the UK parcel delivery sector?
What are the key strengths of Evri that Apollo (APO) highlighted in the acquisition announcement?
