Advent International is preparing to sell up to €1.5 billion of debt backing the proposed InPost buyout to a group of banks, moving part of the financing risk away from the private credit and institutional investor market as one of Europe’s largest logistics takeovers advances towards completion.
The planned transfer covers about a third of a €4.2 billion buyout loan arranged for InPost SA, the Polish parcel-locker operator at the centre of a €7.8 billion all-cash takeover offer led by Advent, FedEx, A&R Investments and PPF Group. The remaining portion of the debt package is expected to be marketed to institutional investors, keeping the structure anchored in the leveraged finance market while giving banks a larger role in absorbing the transaction exposure.
The financing move highlights the careful staging behind a deal that has drawn close attention from lenders, credit funds and public-market investors. Buyout financing in Europe has become more selective as sponsors seek to balance pricing, execution certainty and investor appetite, particularly for large transactions that require both bank support and institutional demand.
InPost’s proposed acquisition is among the most closely watched European private equity transactions of 2026. The consortium has offered €15.60 per share for the company, valuing the equity at about €7.8 billion. The offer carries the backing of InPost’s board and has commitments from shareholders representing about 48 per cent of the company’s capital, but it requires acceptance from at least 80 per cent of shareholders to proceed. Completion is expected in the second half of 2026, subject to regulatory and shareholder conditions.
Under the planned ownership structure after settlement, Advent and FedEx would each hold 37 per cent of the consortium, while A&R Investments, the vehicle linked to founder and chief executive RafaÅ‚ Brzoska, would hold 16 per cent. PPF Group would hold 10 per cent. The arrangement gives FedEx access to one of Europe’s most developed automated parcel-locker networks while allowing InPost to continue operating as an independent brand headquartered in Poland.
The debt package reflects both InPost’s strategic appeal and the scale of funding needed to take a listed logistics platform private. Earlier financing discussions centred on a package of about €4.95 billion, including a €750 million revolving credit facility and €4.2 billion of drawn debt. The drawn component included euro-denominated term loan borrowings designed to support the acquisition and provide flexibility for the company’s expansion.
InPost’s operating performance has strengthened the case for lender participation, even as the company faces integration costs and shareholder debate over valuation. During the first quarter of 2026, the group handled 359 million parcels, a 32 per cent increase from a year earlier. Revenue rose to PLN 3.9 billion, while adjusted earnings before interest, tax, depreciation and amortisation stood at PLN 902.2 million. International markets accounted for 53 per cent of group revenue, underlining the company’s shift from a Poland-focused network into a broader European logistics platform.
The company’s automated parcel machine network reached 64,680 units at the end of the first quarter, up 30 per cent year on year. Poland remained its largest market, with 188.1 million parcels handled during the quarter, while the UK and Ireland posted a sharp rise in volumes following the acquisition of Yodel. The UK business is expected to move towards break-even during 2026 as integration costs ease and volumes scale.
InPost has become a key beneficiary of the shift towards out-of-home delivery, a model that lowers failed delivery rates and supports denser last-mile logistics. Parcel lockers have gained traction among e-commerce platforms, merchants and consumers because they reduce delivery costs, allow flexible collection and help carriers manage labour and fuel pressures. The model is particularly strong in Poland, where InPost has established high consumer adoption, but the company is now pushing deeper into France, Spain, Portugal, Italy, Benelux and the UK.
The planned transfer covers about a third of a €4.2 billion buyout loan arranged for InPost SA, the Polish parcel-locker operator at the centre of a €7.8 billion all-cash takeover offer led by Advent, FedEx, A&R Investments and PPF Group. The remaining portion of the debt package is expected to be marketed to institutional investors, keeping the structure anchored in the leveraged finance market while giving banks a larger role in absorbing the transaction exposure.
The financing move highlights the careful staging behind a deal that has drawn close attention from lenders, credit funds and public-market investors. Buyout financing in Europe has become more selective as sponsors seek to balance pricing, execution certainty and investor appetite, particularly for large transactions that require both bank support and institutional demand.
InPost’s proposed acquisition is among the most closely watched European private equity transactions of 2026. The consortium has offered €15.60 per share for the company, valuing the equity at about €7.8 billion. The offer carries the backing of InPost’s board and has commitments from shareholders representing about 48 per cent of the company’s capital, but it requires acceptance from at least 80 per cent of shareholders to proceed. Completion is expected in the second half of 2026, subject to regulatory and shareholder conditions.
Under the planned ownership structure after settlement, Advent and FedEx would each hold 37 per cent of the consortium, while A&R Investments, the vehicle linked to founder and chief executive RafaÅ‚ Brzoska, would hold 16 per cent. PPF Group would hold 10 per cent. The arrangement gives FedEx access to one of Europe’s most developed automated parcel-locker networks while allowing InPost to continue operating as an independent brand headquartered in Poland.
The debt package reflects both InPost’s strategic appeal and the scale of funding needed to take a listed logistics platform private. Earlier financing discussions centred on a package of about €4.95 billion, including a €750 million revolving credit facility and €4.2 billion of drawn debt. The drawn component included euro-denominated term loan borrowings designed to support the acquisition and provide flexibility for the company’s expansion.
InPost’s operating performance has strengthened the case for lender participation, even as the company faces integration costs and shareholder debate over valuation. During the first quarter of 2026, the group handled 359 million parcels, a 32 per cent increase from a year earlier. Revenue rose to PLN 3.9 billion, while adjusted earnings before interest, tax, depreciation and amortisation stood at PLN 902.2 million. International markets accounted for 53 per cent of group revenue, underlining the company’s shift from a Poland-focused network into a broader European logistics platform.
The company’s automated parcel machine network reached 64,680 units at the end of the first quarter, up 30 per cent year on year. Poland remained its largest market, with 188.1 million parcels handled during the quarter, while the UK and Ireland posted a sharp rise in volumes following the acquisition of Yodel. The UK business is expected to move towards break-even during 2026 as integration costs ease and volumes scale.
InPost has become a key beneficiary of the shift towards out-of-home delivery, a model that lowers failed delivery rates and supports denser last-mile logistics. Parcel lockers have gained traction among e-commerce platforms, merchants and consumers because they reduce delivery costs, allow flexible collection and help carriers manage labour and fuel pressures. The model is particularly strong in Poland, where InPost has established high consumer adoption, but the company is now pushing deeper into France, Spain, Portugal, Italy, Benelux and the UK.
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