Press Release

White & Case Advises DX on IPO and Admission to AIM

Global law firm White & Case LLP has advised DX (Group) plc, a leading independent logistics operator in the UK and Republic of Ireland, on the successful pricing of its initial public offering and admission to the AIM market of the London Stock Exchange.

The associated share placing values DX, a portfolio company of private equity firm Arle Capital Partners Limited since 2006, at around £200 million. The proceeds of the placing will be used to repay existing senior debt, shareholder loans and private equity investors.

Admission to AIM will allow the company to invest in service developments for its customers, enhance its reputation and add further credibility to its service offering. Admission to AIM will also raise the profile of DX as it begins to livery its vehicles for the first time.

London-based White & Case partner Ian Bagshaw, who led the team which advised DX, said: "This float represents the most successful fundraising on AIM since 2006 and we're proud to have worked with DX on the successful delivery of such a key strategic step for the business, and to have supported Arle as shareholder. Both are long-standing clients and it was exciting to play a key role at the start of a new era in the development of DX."

Petar Cvetkovic, DX Chief Executive Officer, said: "The team at White & Case was integral to the delivery of a smooth, efficient IPO process. It's a partnership I look forward to continuing in the next phase of the DX story."

The Firm also advised on a financial reorganisation of DX and a refinancing which replaced existing debt with a new working capital facility, both of which were prerequisites to the IPO.

The White & Case team in London which advised DX included partners Ian Bagshaw, Allan Taylor, Nicholas Greenacre, Inigo Esteve, Rob Bennett and Peita Menon with support from counsel Euan Fergusson and Tallat Hussain and associates Lucy Bullock, Ozlem Dowling, Helen Joseph, Narinder Surae, Nicole Vella and Richard Lloyd.

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