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Apollo Global Management has announced the acquisition of Evri, a leading UK parcel delivery company, from Advent International. This strategic move underscores Apollo's commitment to expanding its footprint in the logistics and transportation sector. The acquisition is expected to bolster Evri's market position and enhance its capabilities in the fast-growing e-commerce market.
Evri is a UK-based parcel delivery and courier service provider offering a range of services including domestic and international parcel delivery, door-to-door courier collection, and extensive drop-off and pick-up options at over 16,000 ParcelShops and Lockers. Known for its affordability, Evri provides next-day delivery, full tracking, and easy returns. Unique features include video messages with parcels, bulk sending tools, and partnerships with major retailers like Next, ASOS, and Amazon.
Apollo Global Management is a prominent player in the alternative asset management and retirement services industry. The company offers a diverse range of investment strategies across Credit, Equity, and Real Assets, alongside retirement savings products through its subsidiary, Athene. Known for its disciplined investment approach, Apollo focuses on generating risk-adjusted returns and providing innovative capital solutions. Its significant influence in the financial markets is marked by large-scale transactions and a strong commitment to sustainability and positive societal impact.
Apollo Global Management announced the acquisition of Evri on July 25, 2024. This acquisition comes at a time when the e-commerce sector is experiencing rapid growth, driving demand for efficient parcel delivery services. Evri, having significantly expanded since its relaunch in 2022, is well-positioned to capitalize on this trend. The transaction is expected to close in the third quarter of 2024, aligning with Apollo's strategy to enhance its presence in the logistics and transportation industry.
The acquisition of Evri by Apollo Global Management is expected to bring several changes to the company's operations and management. While specific details about immediate operational changes have not been disclosed, the transition to new ownership under Apollo suggests potential strategic shifts. Apollo's investment in Evri is likely to focus on leveraging its capital and expertise to enhance Evri's service capabilities and expand its market reach. The management structure may also see adjustments as Apollo integrates Evri into its portfolio, aiming to drive further growth and efficiency.
Regarding product offerings and services, Evri's core services, such as its strong national network and innovative last-mile delivery model, are expected to remain central to its operations. The emphasis on reliable, lower emissions delivery will likely continue, aligning with Apollo's sustainability goals. Employee reactions to the acquisition have not been explicitly detailed, but the positive outlook from Evri's CEO suggests a hopeful perspective among the workforce. Customer reactions are also not specified, but the focus on maintaining high service standards indicates a commitment to customer satisfaction.
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