Bridgepoint sells UK parcel carrier Lynx Express to UPS for £55.5m

Lynx Express has grown significantly since it was the subject of a Bridgepoint-backed £34.3m management buy-out in 1997. Sales in 2004 amounted to £170m. Michael Davy, partner at Bridgepoint, said, ‘During Bridgepoint’s ownership Lynx has developed into a leading industry player and we are pleased with this transaction.’

Lynx is the second trade sale announced by Bridgepoint this month. Last week, Bridgepoint announced that it had sold Molton Brown, the luxury goods brand focusing on bath and body care, skin and hair care, to Tokyo-based Kao Corporation of Japan in a transaction totalling £170m.

Molton Brown’s turnover to 31 March 2005 was £45m. Bridgepoint first took a minority shareholding in the business in 1994, later leading an institutional buy-out, which valued the business at £76m in 2003.

Bridgepoint focuses on investments in mid-market companies valued up to €750m. It has completed over 150 management buy-outs in the past ten years. Bridgepoint recently closed a new fund with commitments of around €2.5bn.

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