THE FOUNDER of Clipper Logistics, which provides delivery services for online retailers such as Asos and John Lewis, is said to be preparing a £300m bid to take the company private.

Steve Parkin, who founded Clipper in 1992, has approached fellow board members about the proposed takeover, Sky News reported.

Parkin is said to have teamed up with US private equity firm Sun Capital Partners for the bid, which comes five years after Clipper's London initial public offering.

The Leeds-based firm specialises in handling online orders and returns for retail customers including Asda, Marks & Spencer and Wilko.

Parkin, the firm's executive chairman, holds roughly a third of its shares. With the support of allies, he is understood to count roughly 40 per cent of the company's stock in favour of his takeover.

Clipper is expected to release a statement to the London Stock Exchange today confirming the offer.

(c) 2019 City A.M., source Newspaper