Oaktree Capital backs Mail Boxes Etc

The GP will acquire a stake of up to 40% in the company via a capital increase of up to €120m.

The majority shareholders, the Fiorelli family, will continue to own a majority stake in the business and lead the company.

With this investment, Oaktree intends to support MBE’s international expansion and boost its growth, both organically and through additional acquisitions.

Company
Headquartered in Milan, MBE specialises in providing outsourced shipping, mailing, print and marketing to SMEs and consumers globally. It operates via a network of independent and franchised stores in 52 countries worldwide. The company has three complementary brands: Mail Boxes Etc, AlphaGraphics and PostNet. It generated revenues of €918m in 2019.

People
MBE Worldwide – Paolo Fiorelli (CEO).
Oaktree Capital Management – Mario Adario (managing director).

Advisers
Company – Jefferies (corporate finance); Sidley Austin (legal); Chiomenti (legal); PwC (financial due diligence).
Equity – Shearman & Sterling (legal); EY (financial due diligence); Boston Consulting Group (operational due diligence).

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• Topics
• Expansion
• Southern Europe
• Industrials
• Support services
• Oaktree Capital Management
• PwC
• EY (Ernst & Young)
• Italy