Deloitte successfully advised PostNL on the divestment of the activities of Postcon to Quantum Capital Partners
Deloitte successfully advised PostNL NV (“PostNL”) on the divestment of the activities of Postcon Deutschland B.V. & Co. KG (“Postcon”), the number-two mail provider in Germany and a subsidiary of PostNL, to Quantum Capital Partners GmbH (“QCP”).
About the transaction
The Deloitte Corporate Finance Advisory team in Frankfurt/Main led by Moritz Freiherr Schenck together with Philipp Gebhard, Ryan Edelmann and Jan Morawietz advised PostNL on the divestment of the activities of Postcon to QCP, a fast-growing international financial investor with offices in Munich, Madrid and Milan. The Corporate Finance Advisory team and a Deloitte Tax team led by Roland Bien supported PostNL jointly .
Deloitte’s industry expertise as well as its integrated service offering, including Tax Advisory, ensured a smooth and efficient cross-border transaction meeting an ambitious timetable given the complexity of the transaction structure. In parallel Deloitte supported PostNL in selling several minority shareholdings in last mile operations in the German postal delivery sector.
Postcon is headquartered in Ratingen near Düsseldorf, Germany. It processes over 1 billion letters a year and has a market share of about 10% in Germany. Together with its partners, its reach includes every household in the country. Postcon has modern sorting centers all across Germany, as well as a company-owned delivery structure in the Rhineland and Ruhr areas. The company has around 5,300 direct and indirect employees.
Steffen Görig, CEO and founder of QCP comments: “Postcon is the leading alternative mail provider in Germany in a challenging market environment. We look forward to continuing the growth path in the nationwide business, to further developing the last-mile business and to enhancing operational and administrative efficiencies. We are keen to support the team on the road to success and are confident that we can realise Postcon’s full growth potential.”
Herna Verhagen, CEO of PostNL, says: “This transaction will allow Postcon to further develop its activities and strengthen its position in the German postal market. The sale of Postcon marks another step in our strategy of focusing on our core markets in the Netherlands and Belgium, and supporting the transformation of PostNL into an e-commerce logistics service provider.”
The transaction is subject to a number of conditions, including regulatory approval, and is expected to close before the end of 2019.
About the client
PostNL NV is a listed company with revenues of €2.8 billion in 2018. The company is engaged in providing mail and logistics solutions. PostNL delivers an average 800,000 parcels and 7 million letters across the Benelux region and employs approx. 38,000 people.
About Deloitte – Corporate Finance Advisory
As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to large and mid-market corporations as well as to private equity firms globally. We offer financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.
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