DX GROUP acquired by HIG CAPITAL

The private equity investor H.I.G. Capital signs a stake acquisition to take control of DX (Group) plc through a public-to-private transaction executed in the United Kingdom. Finalized in January 2024 via the vehicle Transit Bidco Limited, the buyout was structured as a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 to acquire all issued and to be issued share capital of DX (Group) plc. Under the agreed financial terms, DX (Group) plc shareholders received 48.5 pence per share (comprising 47.5 pence in cash consideration alongside a 1.0 penny final dividend), representing a 32.9 percent premium over the undisturbed closing share price of 36.5 pence. The acquisition removes DX (Group) plc from trading on the AIM market of the London Stock Exchange to pursue growth initiatives under private ownership. Strategically, the investment thesis structured by H.I.G. Capital focuses on expanding market share within the highly fragmented British freight logistics and irregular dimension and weight (IDW) courier sectors. By backing Chief Executive Officer Paul Ibbetson and the incumbent executive team, H.I.G. Capital provides capital resources to finance technology modernization, fleet expansion, and add-on acquisitions across adjacent logistics segments. The board of DX (Group) plc was advised financially on the offer by Moelis & Company. Markus Noe-Nordberg and Tobias Borkowski at H.I.G. Capital lead the post-closing corporate governance to support long-term commercial execution across the UK parcel and freight markets.