DX Network Services Ltd (DX), the independent logistics and parcel distribution company with operations in UK & Ireland, has announced it has entered into an agreement to sell its Business Direct operations with effect from 21st December 2013. The acquirer is ByBox Field Support Limited. Terms of the acquisition have not been disclosed.
Business Direct provides In-Night logistics services aimed at servicing the field engineer market, distributing parts through a network of 365 intelligent ParcelXchanges and via an In-Boot service.
DX will be working with ByBox between now and 21st December 2013 to ensure a smooth process for both colleagues and Customers.
Commenting on the transaction, Petar Cvetkovic, CEO of DX, said: "Business Direct is an excellent business providing efficient time-critical services to a diverse Customer base. Since its acquisition by DX in 2008 we have invested to grow the ParcelXchange network and develop its range of services. The profit from the sale of Business Direct will allow DX to increase the investment and capacity in our core Business-to-Business (B2B) and Business-to-Consumer (B2C) services.
Following the approach from ByBox, the sale presents an excellent opportunity for Business Direct to be owned and managed by a company solely focused on the provision of In Night services and provides Customers with access to a significantly enhanced network of drop boxes."
Stuart Miller, CEO of ByBox, stated: "ByBox' acquisition of Business Direct further demonstrates our on-going investment in building the very best field service supply chain in the UK. Having already acquired Echo, a leader in Technical Resource services earlier in the year, we are clearly committed to providing our customers with the most comprehensive and competitive range of field service solutions available on the market today.
Our continued focus is on deploying innovation and technology combined with dedicated in-night logistics and Technical resources to help our customers to be more successful. With the acquisition of Business Direct, we are looking forward to engaging with a new set of customers to deliver highly efficient and exciting new supply chain solutions, as well as welcoming new colleagues from Business Direct to the ByBox team."