UK sameday courier company CitySprint has bought Hornets, an independent despatch business offering UK and international services. The purchase is expected to increase CitySprint’s annual turnover by around 12% to more than £30m (Euro45m). Hornet’s vans, motorbikes and bicycles will be added to CitySprint’s fleet of 1,200 vehicles, although Hornets will operate as a division of CitySprint.
Read MoreThe management of London based courier firm CitySprint has bought out the firms assets in a multi-million pound deal.
Read MoreUK same-day courier company CitySprint has been acquired in a multi-million pound management buyout (MBO) deal from troubled Dispatch Management Services DMS and its new owners are predicting double-digit growth in 2002.
“We are looking at growth of 15-20% annually over the next three years,” said chief executive Andrew Bernard, who led the buyout. “We see that as realistic in 2002. Tt means increasing market share, but it has to be managed effectively.”
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