- 15 January 2020
- Transport / Logistics Services
Private equity firm Sun Capital has indicated it will now not be making an offer to buy out Clipper Logistics.
In November, London Stock Exchange-listed Clipper Logistics announced it had received a preliminary offer from Sun Capital. The original December deadline was extended to January “to allow further time for the ongoing discussions to take place”.
Currently Sun Capital has a portfolio that includes brands such as bed retailer Dreams.
Turnover at Clipper rose 11.7% to £254.6 million for the six months to 31 October compared to 2018, while operating profit grew 13.5% to £12.1 million.