M/23/063 – HIG Capital / DX Group

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2023.12.06 Merger Announcement M.23.063
2023.12.06 M.23.063 HIG Capital and DX Group Determination

Transaction details

The proposed acquisition by HIG Capital LLC, through its wholly owned subsidiary Transit Bidco Limited, of DX (Group) plc, has been cleared by the Competition and Consumer Protection Commission.

Notification date	Decision date
Monday November 20, 2023	Wednesday, December 6, 2023

Parties Involved	Business activities
HIG Capital LLC	HIG Capital LLC specialises in providing both debt and equity capital to small and mid-sized companies. HIG Capital's infrastructure funds invest in a wide range of businesses with infrastructure characteristics, with a focus on traditional infrastructure sectors such as TMT, power and transport. Transit Bidco Limited is a private limited company incorporated in England which is indirectly wholly-owned by funds advised or managed by HIG Capital or its affiliates. Transit Bidco Limited was formed for the purposes of the Proposed Transaction.
DX (Group) plc	DX Group is a provider of a wide range of delivery services, including parcel freight, secure, courier and logistics services. DX Group operates through two divisions: - DX Freight: DX freight provides collection and overnight delivery of larger and heavier items, including those with irregular dimensions and weight, to businesses and residential addresses in the UK, via the DX freight central hub and depots. - DX Express: DX Express provides collection and express delivery of time-sensitive items for business-to-business and business-to-consumer customers, via the DX Express hub and its UK and Ireland network.

Parties Involved

Business activities

HIG Capital LLC

HIG Capital LLC specialises in providing both debt and equity capital to small and mid-sized companies. HIG Capital's infrastructure funds invest in a wide range of businesses with infrastructure characteristics, with a focus on traditional infrastructure sectors such as TMT, power and transport.

Transit Bidco Limited is a private limited company incorporated in England which is indirectly wholly-owned by funds advised or managed by HIG Capital or its affiliates. Transit Bidco Limited was formed for the purposes of the Proposed Transaction.

DX (Group) plc

DX Group is a provider of a wide range of delivery services, including parcel freight, secure, courier and logistics services. DX Group operates through two divisions:

- DX Freight: DX freight provides collection and overnight delivery of larger and heavier items, including those with irregular dimensions and weight, to businesses and residential addresses in the UK, via the DX freight central hub and depots.

- DX Express: DX Express provides collection and express delivery of time-sensitive items for business-to-business and business-to-consumer customers, via the DX Express hub and its UK and Ireland network.

Economic sector	Media merger
Transport & Logistics	No

Submissions from third parties due by:
Phase 1	Phase 2
Monday, December 4, 2023

Current status: Completed
Simplified Merger Notification

Authorised Officer Assigned	Contact Details
Jason McGoldrick	jasonmcgoldrick@ccpc.ie

Media enquiries: communications@ccpc.ie

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M/23/063 – HIG Capital / DX Group

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