The management team of the UK's largest independently owned express parcel carriers, ANC Group, has completed a £37.3m funding arrangement with the backing of mid-market private equity firm Lloyds TSB Development Capital.
The firm, which employs 45 people in Swindon was formed in 1982 It employs more than 5,000 people with its largest business, ANC Express, handling up to 200,000 parcels a day.
The business operates a fleet of 2,200 vehicles from 81 depots across the UK, including two national hubs in Newcastle-under-Lyme and Milton Keynes.
The current management team has bought a 50 per cent stake previously held by institutional shareholders. This six-strong management group took over in 2001 and has overseen significant growth.
The business has invested £10 million over the past three years in order to create the infrastructure to support its growth.
The success of this strategy has seen the ANC Group capture in excess of an 11 per cent share of the UK internal domestic express parcels market and more than seven per cent of the combined domestic and international UK parcels market. Turnover has risen from £123million in 2004/2005 to £133million in 2005/2006.
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