Private equity firm Apollo has bought delivery business Evri for £2.7 billion. Did they get a good price? I can only assume the execs who hammered out the deal are not fans of online shopping.
A brief history: A few years ago Evri was called Hermes. The company found itself bottom in rankings for delivery firms more than once. Citizens’ Advice gave Hermes a 2-star rating for ‘trust’ and a 1-star rating for handling customer problems. On top of that, workers at the courier service carelessly threw parcels around delivery depots and over people’s fences, an investigation by the Times found. So Hermes rebranded to Evri, and said it would improve. But old habits die hard.
