DX Group snaps up City Link assets

DX has bought assets including scanners and cages as well as some intellectual property for £1.125m.

DX is run by the former managing director of City Link Petar Cvetkovic.

Mr Cvetkovic left City Link in 2009.

DX also recently acquired a significant minority stake in ‘green’ delivery services provider, Gnewt Cargo.

DX, a leading independent mail, parcels and logistics end-to-end network operator in the UK and Ireland, acquired a 49.8% shareholding in Gnewt Cargo for approximately £1.75 million in cash on completion.

Founded in 2009 with the aim of reducing pollution, particulate emissions and congestion, Gnewt operates a fleet of over 100 electric zero-emission vehicles, including cargocycles and minivans. It offers multi-drop ‘last mile’ delivery services in Central London.

“I am delighted that Matt and Sam, who both co-founded Gnewt, have chosen to partner with DX. We use Gnewt’s services ourselves and therefore know just how efficient and Customer-focused they are – and, of course, how they help to reduce emissions and make city centres better places to be.  We now look forward to working with the Gnewt team to expand their environmentally-friendly ‘last mile’ delivery services to other UK cities.  We will be combining Gnewt’s technical expertise with DX’s funding support and core volumes to start-up Gnewt locations across the UK.”