PORTFOLIO / Parcel2Go
Building Europe’s leading provider of online shipping solutions to power e-commerce.
Website
Sector
HQ
Bolton, UK
Geographic footprint
UK, Ireland, Spain, US
Sales
£140m
Employees
>300
Investment date
December 2019
Status
The company
Parcel2Go has grown rapidly to become the UK’s market leader in the provision of online shipping solutions to power e-commerce. The website and app provide customers, consisting of small businesses and consumers, with a quick and easy way to choose the most appropriate shipping service from over 25 carriers, with Parcel2Go managing all customer enquiries, tracking and claims. The company’s white label software offering provides carriers an effective solution to deliver their online parcel order pages.
Revenue growth since Mayfair investment
>50%
Number of acquisitions during Mayfair’s investment
1
The investment
Mayfair backed Parcel2Go’s ambitious and entrepreneurial management team to cement their market leadership in the UK, with the potential for further expansion through M&A opportunities. The team is also focused on a programme of product innovation to create the best available experience across all parts of the customer journey.
Mayfair partially realised its investment in July 2021, selling a majority stake to EQT and re-investing for a minority stake.
Our partnership
Mayfair has supported the business in several areas including:
• Helping bring in transformational hires into the business for the first time, including a Chief Financial Officer, Chief Information Officer and Chief Commercial Officer.
• Supporting the management team to deliver a superior customer experience through innovations such as Smart Send, which allows eCommerce marketplace sellers to seamlessly manage their parcel deliveries across platforms including eBay, Etsy and Amazon.
• Building on existing excellence in digital marketing including customer acquisition and retention, whilst exploring new areas of opportunity such as innovation in data analytics and offline marketing.
• Developing a new pricing strategy.
• Assessing and executing M&A opportunities that provide a complementary strategic fit to Parcel2Go, including the acquisition of Parcel Monkey, a competitor in the UK, which cemented Parcel2Go’s market position and provided additional growth avenues.
“We wanted to work with Mayfair because of their partnership ethos, which was clearly demonstrated from a very early stage, even before the deal was completed. Since then, our teams have developed a close working relationship built on mutual respect to shape and execute a plan that has enabled our business to grow much faster and with far less risk.”
James Greenbury, Executive Chairman and Chief Executive Officer at Parcel2Go
