Private equity firm Sun European Partners is looking to acquire multichannel retail specialist Clipper Logistics.
LSE listed Clipper Logistics confirmed to shareholders it had received a preliminary approach from Sun European Partners, which has until 18 December to either announce a firm intention to make an offer or withdraw its interest.
Sun’s portfolio includes brands such as bed retailer Dreams; brake parts manufacturer Flexitech and Northern Ireland-based door manufacturer O&S.
In August Clipper reported that it had increased turnover by 15 per cent to £460.2 million in the year to 30th April, as a result of contract wins growth with existing customers in e-fulfilment and returns management.Operating profit was flat at £20.2 million.
New contracts included: boohoo.com subsidiary PrettyLittleThing, Ginger Ray, Levi Strauss, Vestel, the Mountain Warehouse brand Neon Sheep, Tech Data and Sports Direct in the UK, and Mountain Warehouse in Poland.
By Christopher Walton