Hill Dickinson advises The Delivery Group and Next Wave Partners as P2P joins the UK’s fastest growing delivery firm
Details
Hill Dickinson’s corporate team has advised The Delivery Group in connection with its merger and partnership with international e-commerce logistics operator P2P Mailing.
The Delivery Group was established in March 2015 and is the parent group to Secured Mail and CMS Network. With P2P joining the business, The Delivery Group will have an estimated turnover of c.£200 million, operating from six locations, with over 500 employees and handles in excess of 500 million items per annum. The company provides services including international and domestic e-commerce and mail deliveries, direct marketing mail distribution, managed mail solutions and specialist financial documents logistics.
Existing private equity backer of The Delivery Group, Next Wave Partners LLP, supported the transaction with additional investment taking their total investment to £13m while simultaneously closing a £35m debt refinancing with Apollo Global Management LLC’s MidCap Financial.
Hill Dickinson corporate partner Craig Scott and legal director Mike Murphy advised The Delivery Group and Next Wave Partners on the transaction.
As one of the UK’s leading international e-commerce logistics operations, P2P employs more than 150 staff and is partnered with well-known brands including ASOS, The Hut Group and Gardners Books, providing both tracked and untracked e-commerce distribution services from its sites at Basildon and Heathrow.
P2P CEO Ian Dowie and COO, Malcolm Barrell, will both join The Delivery Group’s board of directors alongside chairman Paul Carvell, chief financial officer Michael Owen, Secured Mail’s chief executive Mark Bigley and CMS’ chief executive Steve Stokes, as well as representatives from Next Wave Partners.
Peter Wood, investment director at Next Wave Partners, commented: “We have worked with Craig and his team for over five years across a range of transactions including growth buyouts, refinancing’s, and transformational add-on acquisitions. We continue to work with Hill Dickinson because they offer a highly experienced team with a responsive and commercial approach.”