ANC Management Buy-Out
November 1999 – ANC Group Limited has been acquired from HSBC Private Equity in a management buy-out. PPM Ventures has taken a significant majority stake in the business with the balance of equity held by incumbent management who made a substantial personal equity commitment to the buy-out. The total funding requirement for the transaction was £75m and banking facilities have been made available by The Royal Bank of Scotland.
ANC is one of the UK’s leading independent express parcel carriers operating through a network of franchised depots and three regional sortation hubs. It offers premium services including next day and in-night deliveries to the business-to-business and business-to-home markets as well as international services. Turnover for the year ended 31 December 1998 totalled £78.5m, while profit before interest and tax amounted to £7.5m.
ANC is well respected for providing quality services through its long established franchise network. ANC has consistently outperformed the market, enabled by an infrastructure designed to offer customers an efficient and reliable value for money service. ANC will seek to expand upon the growth platform created through significant investment in IT, hub operations and transport, providing both the additional capacity and systems required to meet its development strategies and to exploit the benefits of a market which has been and is expected to continue to witness a considerable increase in volume growth.
For more information contact Martin Clarke.
