• Acquisition of 50.2 per cent interest in APC for £15mn
• 40 per cent share price discount to pro-forma NAV of 26.1p
Logistics Development Group (LDG:15.75p), an investment company managed by asset management firm DBAY, has acquired a 50.2 per cent economic interest in APC, the largest independent parcel delivery network in the UK.
APC sets itself apart from competitors through its unique network structure, with the first and last mile operated by more than 90 locally concentrated depots. They are owned by entrepreneurial network members, which allows them to provide quicker response times and more tailored customer service. APC is focused on overnight delivery with a particular strength in niche parcels including fragile, liquid and high-value items.