DX Group

("DX" or "the Group")

Acquires Express Freight in Northern Ireland

DX, a leading provider of delivery solutions, including parcel freight, secure courier, 2-person and logistics services, is pleased to announce the acquisition of Express Freight, a leading provider of pallet, parcel and general freight deliveries in Northern Ireland.

Express Freight is a family-owned and operated business, with a successful trading track record of over 50 years. Based at a three-acre site in Moyraverty, Craigavon, 25 miles from Belfast city centre providing easy access to the Dublin/Belfast motorway link, it operates 54 daily delivery routes and employs over 115 staff. Its purpose-built depot has approximately 17,500 sq ft of raised warehouse floor space, 38 loading bays, a rear access bay, as well as around 6,000 sq ft storage area and over 6,500 sq ft of office accommodation; the depot also has a 10,000 sq ft drive-through canopy.

The acquisition of Express Freight supports the continuing expansion of DX's Freight division, which is a market leader in the delivery and collection of irregular dimensions and weight ("IDW") items. Express Freight is well known to DX Group as a successful Independent Service Provider. Following the completion of the acquisition, the management team of Express Freight will remain with the business, ensuring its smooth integration into the DX network and continued high service quality to existing customers.

As part of its ambitious growth plans, DX is actively pursuing further accretive acquisitions. The Group is well-positioned to continue consolidating the fragmented logistics market. DX is also evaluating opportunities to strengthen its offering in integrated logistics and expand into new end markets.

Paul Ibbetson, Chief Executive Officer of DX (Group), commented,

"I am both delighted and excited to announce our first M&A activity under H.I.G. ownership with the acquisition of Express Freight, which is a natural fit for DX. We believe that integrating Express Freight within the DX Group will generate significant growth opportunities, whilst expanding the presence of the DX brand, in both Northern Ireland and the Republic of Ireland. We are confident that the Express Freight customers will benefit from joining a larger group that is incredibly focused on service-quality and customer satisfaction.

"On behalf of everyone at DX, I am delighted to welcome Michael Mitchell, Lynne Brown and all of the team, and I look forward to further success with Express Freight as part of DX Group."

Michael Mitchell, Managing Director of Express Freight, commented,

"We are extremely pleased to be joining the DX Group. Both our businesses are strongly aligned in terms of delivering service excellence and providing local customer services. DX have been on a fantastic growth journey over the past five years and are well positioned to continue this. We are incredibly excited to be joining the Group and playing our part in the DX success story moving forwards."

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About DX Group:

DX is a well-established provider of a wide range of delivery services to both business and residential addresses across the UK and Ireland. First established in 1975 as a Document Exchange service to the legal sector, DX now provides one of the widest ranges of overnight delivery services in the market, as well as logistics services. Items that DX transports range from confidential documents and valuable packages to large, awkward-to-handle freight, unsuitable for automated conveyor.

The Group operates through two divisions, DX Freight and DX Express.

·    DX Freight comprises DX-1 and DX-2/Logistics, with the Division being only one of a small number of operators that provides an overnight delivery service for irregular dimension and weight freight ("IDW").

·    DX Express comprises DX Parcels and DX Exchange and Mail, with the Division specialising in the express delivery, including pre-9am, of parcels and documents.