London firm backs management buyout of parcel price comparison platform
Private equity firm Mayfair Equity Partners has announced it is backing the management buyout of one of the UK’s largest parcel delivery price comparison websites.
The London-based firm is investing in the buyout of Parcel2Go, which aims to provide delivery alternatives for micro SMEs, small retailers and everyday consumers.
Mayfair’s investment will provide Parcel2Go’s management with additional capital and operating support to accelerate their growth plans and to explore merger & acquisition opportunities.
Following the deal, Mayfair will have a majority shareholding in the business alongside Parcel2Go’s management team.
James Greenbury, executive chairman of Parcel2Go, commented: “By operating three complementary business lines, we have successfully delivered strong organic growth and cemented our position as a market leader.
“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, added: “Parcel2Go has rapidly achieved a market leading position, providing both carriers and customers a unique offering and excellent quality of service.
“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.”
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