Same-day courier service Citysprint acquires Dash-It
Purchase of Southampton courier marks fifth acquisition in record-breaking year for firm
Leading same-day distribution network Citysprint today announced it has acquired Southampton competitor Dash-It, in a bid to expand the range of services it offers.
Founded in 2001, Citysprint specialises in fast private courier delivery, especially in the London area.
It says its 2,500 self-employed drivers, which operate from 37 sites across the UK, can deliver to 80% of addresses in the UK within an hour of ordering.
The Dash-It acquisition, the terms of which were undisclosed, was made in a bid to launch a new overnight delivery service, primarily aimed at business customers.
The firm says its new ‘in-night’ service will allow the secure delivery of stock to any specified location before 6am.
Citysprint’s purchase of the Southampton-based firm marks the fifth buyout in a year and the 13th overall conducted by the fast-growing company, which received a substantial venture capital investment from mid-market private equity firm Dunedin in 2010.
The firm also announced record financial results for the year ending 2012, increasing turnover to £101m – a 36% increase on the £74m recorded in 2011.
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Patrick Gallagher, chief executive of Citysprint, commented: “This latest acquisition is an exciting development for our business and presents another new market opportunity of some size to our group. Our ‘In-night’ service will provide another time-definite service to our parts logistics customers by leveraging our network though the night.
“Our business is going from strength to strength and continues to deliver double digit year-on-year organic growth. Development of products and technology particularly within the retail and healthcare divisions has been key and we expect to see further growth in 2014.”