Apollo Global Management has announced its acquisition of British parcel delivery company Evri for £2.7 billion. The deal sees Apollo purchasing Evri from Advent International, which had acquired the company, then known as the UK division of Hermes delivery group, for one billion euros in 2020.

Advent rebranded the company as Evri in 2022. Since then, Evri has expanded significantly, delivering 720 million parcels annually and serving around 12 million customers weekly. The company’s clients include major retailers like Marks & Spencer and John Lewis, as well as online platforms such as Etsy and Vinted.

This acquisition occurs amid notable changes in the parcel delivery industry. For instance, International Distribution Services, the parent company of Parcelforce and Royal Mail, is being taken private by Czech billionaire Daniel Kretinsky.

Martijn de Lange, Chief Executive of Evri, expressed pride in the company's transformation under Advent International. He emphasized Evri’s commitment to on-time delivery and environmentally responsible practices. De Lange stated, “We are excited to partner with the Apollo team to execute on the compelling growth opportunities we see ahead.”

Previously operating as Hermes, the company faced numerous complaints about slow and missing deliveries, even being the subject of a Channel 4 documentary. However, since rebranding, Evri has invested heavily in technology and infrastructure, now claiming over 99% on-time deliveries.

Apollo partner Alex van Hoek praised Evri’s strong market position and innovative approach. He noted, “Evri has built an enviable position in parcel delivery, with an innovative model, technology, and infrastructure purpose-built for reliable, lower emissions delivery in the fast-growing e-commerce market.”

The acquisition is expected to enhance Evri's market presence and operational capabilities, positioning it for continued growth in the dynamic e-commerce sector.