RCS - DX (Group) - Acquisition of Express Freight

DX (Group)Announcement

22/11/2024 08:15

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RNS Number : 2064N  DX (Group)  22 November 2024

DX Group

("DX" or "the Group")

Acquires Express Freight in Northern Ireland

 

DX, a leading provider of delivery solutions, including parcel freight, secure
courier, 2-person and logistics services, is pleased to announce the
acquisition of Express Freight, a leading provider of pallet, parcel and
general freight deliveries in Northern Ireland.

 

Express Freight is a family-owned and operated business, with a successful
trading track record of over 50 years. Based at a three-acre site in
Moyraverty, Craigavon, 25 miles from Belfast city centre providing easy access
to the Dublin/Belfast motorway link, it operates 54 daily delivery routes and
employs over 115 staff. Its purpose-built depot has approximately 17,500 sq ft
of raised warehouse floor space, 38 loading bays, a rear access bay, as well
as around 6,000 sq ft storage area and over 6,500 sq ft of office
accommodation; the depot also has a 10,000 sq ft drive-through canopy.

 

The acquisition of Express Freight supports the continuing expansion of DX's
Freight division, which is a market leader in the delivery and collection of
irregular dimensions and weight ("IDW") items. Express Freight is well known
to DX Group as a successful Independent Service Provider. Following the
completion of the acquisition, the management team of Express Freight will
remain with the business, ensuring its smooth integration into the DX network
and continued high service quality to existing customers.

 

As part of its ambitious growth plans, DX is actively pursuing further
accretive acquisitions. The Group is well-positioned to continue consolidating
the fragmented logistics market. DX is also evaluating opportunities to
strengthen its offering in integrated logistics and expand into new end
markets.

 

Paul Ibbetson, Chief Executive Officer of DX (Group), commented,

"I am both delighted and excited to announce our first M&A activity under
H.I.G. ownership with the acquisition of Express Freight, which is a natural
fit for DX. We believe that integrating Express Freight within the DX Group
will generate significant growth opportunities, whilst expanding the presence
of the DX brand, in both Northern Ireland and the Republic of Ireland. We are
confident that the Express Freight customers will benefit from joining a
larger group that is incredibly focused on service-quality and customer
satisfaction.

 

"On behalf of everyone at DX, I am delighted to welcome Michael Mitchell,
Lynne Brown and all of the team, and I look forward to further success with
Express Freight as part of DX Group."

 

Michael Mitchell, Managing Director of Express Freight, commented,

"We are extremely pleased to be joining the DX Group. Both our businesses are
strongly aligned in terms of delivering service excellence and providing local
customer services. DX have been on a fantastic growth journey over the past
five years and are well positioned to continue this. We are incredibly excited
to be joining the Group and playing our part in the DX success story moving
forwards."

 

Enquiries:

 DX Group                                   T: 020 3178 6378 (c/o KTZ Communications)
 Paul Ibbetson, Chief Executive Officer
 Will Wright, Chief Financial Officer

 KTZ Communications                         T: 020 3178 6378
 Katie Tzouliadis/Robert Morton

 

About DX Group:

 

DX is a well-established provider of a wide range of delivery services to both
business and residential addresses across the UK and Ireland. First
established in 1975 as a Document Exchange service to the legal sector, DX now
provides one of the widest ranges of overnight delivery services in the
market, as well as logistics services. Items that DX transports range from
confidential documents and valuable packages to large, awkward-to-handle
freight, unsuitable for automated conveyor.

 

The Group operates through two divisions, DX Freight and DX Express.

·    DX Freight comprises DX-1 and DX-2/Logistics, with the Division being
only one of a small number of operators that provides an overnight delivery
service for irregular dimension and weight freight ("IDW").

 

·    DX Express comprises DX Parcels and DX Exchange and Mail, with the
Division specialising in the express delivery, including pre-9am, of parcels
and documents.

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