Thu, 05 Dec 2019 | MBO/MBI
Bolton-based parcel delivery price comparison company Parcel2Go has undergone a management buyout (MBO).
The MBO is being backed by London-based private equity firm Mayfair Equity Partners, which will now take a majority shareholding in Parcel2Go alongside the management team. A high percentage of employees will also remain shareholders.
Parcel2Go is an online and international freight shipping firm which offers a range of major global courier services. It aims to provide alternative delivery options at up to a 50 per cent discount for SMEs, small retailers and consumers.
It employs more than 230 staff and has a turnover in excess of £100 million. The company’s revenue at around 20 per cent annually, a rate which it expects to maintain “for the foreseeable future.”
Parcel2Go is led by Executive Chairman James Greenbury, who said: "We are delighted to be able to deliver an early Christmas present to lots of our employees that are part of the share scheme. Its testament to the family that we created that they have chosen to continue the journey with us.
"In Mayfair, we have found the ideal equity partner to help us achieve our long-term ambitions and we look forward to working closely with the Mayfair team."
Daniel Sasaki, managing partner of Mayfair Equity Partners, said: "Price comparison websites have become part of consumers' everyday lives and parcel delivery services is one of the fastest growing categories within it.”
"As James and his team continue to disrupt the market, we look forward to bringing our prior experience in the PCW space to bear and helping them to achieve their next phase of growth."
Imports and distributes contemporary and traditional central heating radiators and towel warmers for clients throughout the UK and Ireland.
LEASEHOLD
Bunker trader and supplier of marine fuels and liquids. Extensive network of global clients. Highly competitive prices ensure repeat custom for the long term.
Imports and distributes active pharmaceutical ingredients (APIs) for clients throughout the UK and internationally. Supplies its products to both SMEs and large multinational organisations.
LEASEHOLD
|
18
|
|
Jun
|
Hull transport business bought out of administration | BUSINESS SALE
Transport operator Clugston Distribution Services has bought...
|
18
|
|
Jun
|
Kingswood Holdings make £4m acquisition and targets extensive pipeline of deals | BUSINESS SALE
UK-based wealth management firm Kingswood Holdings has struc...
|
17
|
|
Jun
|
Four Communications acquires creative agency in ninth BGF-backed takeover | BUSINESS SALE
Marketing services firm Four Communications Group has acquir...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources