Tuffnells Parcels Express

The same article and others also talk about former tuffnels staff allegedly taking confidential information to DX. Seems there was an ongoing court battle over that with DX.

Sold to Palm Bidco for just £15m in 2020 to be paid over 3 years. Smiths news bought tuffnels in 2014 for near enough £115m so a cool £100m loss on the deal after buying them.

Palm Bidco is a specialist purpose vehicle backed by investors brought together by the specialist restructuring advisory firm Broad Oak Support Services (BOSS) to support an extended Tuffnells management team, which is set to be led by new chief executive Ignacio Garat

Didn’t they do well in turning around it’s fortunes?

Operating loss of £14.4m in 2020 when it was sold to Palm Bidco.

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