One of the Thames Valley’s leading law firms, Blandy & Blandy LLP, advised Reading-based Post Haste Group on the sale of its Thames Valley and Scottish courier delivery businesses to CitySprint (UK) for an undisclosed consideration.
Post Haste is a specialist same day express courier company based at 10 locations, employing large fleets of courier vehicles from motorcycles to transit vans to carry out urgent courier deliveries throughout the UK. The sale is a key part of Post Haste’s strategic plans to focus on its London operations at the company’s City and Mayfair sites.
CitySprint is a privately-owned company operating a network of 30-plus wholly-owned service centres across the UK. Whilst the deal does not expand the company's infrastructure, as all locations will be merged with existing CitySprint ServiceCentres, it does increase staff and fleet sizes.
The disposal was led by David Few, partner and head of corporate commercial at Blandy & Blandy and corporate associate Peter Woolley. Tim Clark, employment partner, and employment associate Sukhpal Matharoo advised on the employment aspects of the transaction.
Commenting on the transaction, Post Haste Group chairman Richard Howard said: "This deal has been a huge success; not least because of CitySprint's professional attitude. The deal, from beginning to end, has run smoothly with all of our fears unfounded and laid to rest by CitySprint's approach. It was a large deal for me and I am grateful to David Few and his team at Blandy & Blandy for their warm approach to what was a most successful and pleasant transaction due, very largely, to their extreme professionalism and ability to steer me through the various processes. I am very glad that I appointed Blandy’s and would have no hesitation in recommending them to anyone in a similar situation.”
David Few added: “It is a pleasure to have once again advised Post Haste. I have worked with them for a number of years and it was rewarding to have acted for them on this transaction. I wish them, and CitySprint, every success with their new ventures. It is encouraging to see that despite challenging market conditions, there is still an appetite to complete corporate deals in the Thames Valley. As a firm, Blandy’s have seen this trend reflected in the number of new M&A transactions it has been instructed on recently.”
Commenting on the deal CitySprint chief executive Andrew Bernard said: “CitySprint’s unique infrastructure, comprising over 30 ServiceCentres, is one of the key elements which enables us to remain the UK’s leading SameDay courier company. We have recognised Post Haste as a strong business and are delighted to be able to offer our services to its existing customers, and look forward to welcoming staff and fleet to the CitySprint team.”
The London office of US international law firm Squire, Sanders & Dempsey advised CitySprint (UK).
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