Same-day courier firm CitySprint is set to be sold for £250m just two years after investment company bought it
- An investment firm backed by Lloyds is mulling a sale of CitySprint
- Sources said Lloyds has hired bankers to carry out a ‘strategic review’
- It is not clear which companies might be interested in purchasing CitySprint
One of Britain’s largest same-day courier companies is set to be sold for up to £250 million by an investment company backed by Lloyds Banking Group.
Sources said Lloyds Development Capital, a division of Lloyds, has hired bankers from Raymond James to carry out a ‘strategic review’ of CitySprint, which may lead to a sale.
CitySprint is set to be sold for up to £250 million by an investment company
It is not clear which companies might be interested in purchasing CitySprint but past reports suggest Royal Mail could make a move.
Lloyds Development Capital’s appointment of Raymond James surprised some dealmakers as it only purchased the business from rival buy-out firm Dunedin a couple of years ago for £175 million.
CitySprint has been growing via acquisitions including Heathrow Baggage Services.
Lloyds Development Capital declined to comment.