BECAP12 Fund LP Acquires City Link Limited
Better Capital PCC Limited (the "Company") is pleased to report that BECAP12 Fund LP (the "2012 Fund") has acquired the entire issued share capital of City Link Limited ("City Link") on a debt free basis for a consideration of £1.
The Company has today been informed of the acquisition, which has been effected through a special purpose vehicle owned and controlled by the 2012 Fund.
City Link is one of the leading express parcel delivery and distribution businesses in the UK.
Its audited revenues for the year to 31 December 2012 were £322 million and its net asset position at that date was £24 million.
The 2012 Fund has committed £40 million to fund working capital and restructuring requirements.