LDC divests ByBox in £221m SBO to Francisco Partners

The transaction brings to an end a holding period of just two years for LDC, during which time the business has more than doubled in value.

ByBox expanded into the US market in February 2018 with the opening of an office in Burlington, Massachusetts. It has also opened new headquarters in Oxford Science Park and recently appointed former Inspired Gaming chief operations officer David Gray Wilson as its COO.

Under its new owners, ByBox will look to expand its network of technology-enabled lockers both nationally across the UK and in new international markets.

Previous funding
LDC invested £37.5m to support the £105m management buyout of ByBox in 2016.

Company
Founded in 2000 and headquartered in Oxford, ByBox is a logistics company operating a network of technology-enabled lockers across the UK. It delivers and stores engineering parts for clients including NPower, Vodafone, Fujitsu and BT.

People
LDC – Alastair Weinel (investment director).
Francisco Partners – Deep Shah (co-president); Petri Oksanen (partner).
ByBox – Stuart Miller (CEO).

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