British same-day provider CitySprint is continuing to expand its network with the takeover ofLondon-based courier firm CYC Logistics.
CitySprint said this is its second largest deal to date which extends its network in thecapital, building on its position as the largest privately owned same day distribution company inthe UK.
As one of London’s leading same-day delivery courier firms, CYC Logistics operates an extensivefleet and two London-based service centres serving a diverse range of customers across multiplesectors. The company works together with ‘tried and trusted’ international partners.
The new combined operations will comprise nearly 3,000 couriers and 40 service centres, with theintegration to take place gradually over the next month. As part of the acquisition, all employeesof CYC Logistics will transfer to CitySprint, with the local contact details remaining thesame.
The acquisition will give CYC Logistics’ customers access to CitySprint’s extensive network,which can reach 87% of the UK mainland population in less than an hour. They will also be able toprofit from CitySprint’s leading technology, allowing them to track their parcels in real-time ondesktop and smartphone via CitySprint’s app MyCourier.
Patrick Gallagher, Chief Executive of CitySprint commented: “Today’s acquisition, the secondbiggest in our history, is a major and exciting milestone for the business. Not only are we addingfurther scale and reach to our national business; we are building on our existing local knowledgebase with some excellent people. I am very much looking forward to welcoming CYC staff, couriersand customers to the CitySprint family.”
Tony Fry, Managing Director of CYC Logistics, added: “I certainly believe both companies will bestronger together and look forward to sharing the benefits with all of our clients andemployees.”
This latest acquisition follows the integration of three other regional businesses thatCitySprint acquired earlier this year.
