Mayfair backs Parcel2Go

This is the second investment from Mayfair Equity Partners II, following the investment in Ultrahaptics in August 2019. The fund closed on £650m in January 2019 and invests around £20-50m in equity.

The firm is backing the company's management team, which will retain a stake in the company and is led by its executive chair, James Greenbury. A high percentage of employees will also continue to be shareholders in the company due its incentive scheme, Mayfair said.

Following the investment, the company expects to organically grow in its three verticals, Unquote understands.

Company
Founded in 2000, Parcel2Go is a price comparison website for parcel delivery services. In addition, the business provides white-label software to parcel carriers and a fully hosted website, and manages post-sale customer service. The company's third business line, which operates as National Pallets, provides pallet pricing comparison options in 17 European countries.

Parcel2Go has recorded more than £100m in revenues during 2019, according to a statement. EBITDA for the year ending in March 2019 reached £3.6m. It is based in Bolton with 230 employees.

People
Mayfair Equity Partners – Daniel Sasaki (managing partner).
Parcel2Go – James Greenbury (executive chair).

Advisers
Equity – Oakley Advisory (corporate finance).
Company – Torch Partners (corporate finance).

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