Parcel delivery deal creates £200m turnover group

THE Delivery Group has acquired logistics operator P2P in a private equity backed deal that brings together three businesses in the post and parcel sector.

Secured Mail, which has its headquarters in Warrington and employs 250 staff, formed the Delivery Group with London-based CMS in March last year and they have a combined turnover of £124m.  

Founded in 2006, Secured Mail is a highly automated downstream access (DSA) mail and ecommerce operator, whilst CMS offers mailroom outsourcing with significant clients in the financial and media sectors.

P2P employs around 150 staff and is partnered with some of the UK’s best known brands, providing both tracked and untracked ecommerce distribution services from its locations at Basildon and Heathrow.

The deal with P2P, backed by private equity firm Next Wave Partners, will see group turnover boosted to £200m, with 500 staff operating from six locations across the group handling more than 500 million items a year.

P2P’s chief executive Ian Dowie and chief operating officer Malcolm Barrell will both join The Delivery Group’s board of directors alongside chairman Paul Carvell, Michael Owen as chief financial officer, Secured Mail’s chief executive Mark Bigley, CMS ‘s chief executive Steve Stokes, as well as representatives from Next Wave Partners.

Paul Carvell, chairman of The Delivery Group, said: “P2P brings an even greater international perspective and expertise to The Delivery Group, with a range of services, including the pioneering and innovative worldwide tracked delivery solution designed specifically for the ecommerce sector, TRAKPAK, providing tremendous new options for our existing ecommerce customers.

“In keeping with The Delivery Group strategy, P2P will continue to provide the same great service under the same trading names and run by the same management team.”

P2P’s founder and chief executive Ian Dowie said: “We chose to join The Delivery Group not only because we could see the exciting service opportunities that we can offer together, but because the cultural fit and focus on customer service was evident right from the first meeting. We look forward to working alongside Mark Bigley and Steve Stokes and their teams to create something special.”

Peter Wood, investment director at Next Wave Partners, said: “We believe that the combined entity will create a market leading ecommerce logistics proposition with a strong culture of customer service and an innovative approach across all three businesses.”

Craig Scott and Mike Murphy of Hill Dickinson advised The Delivery Group and Next Wave Partners.

The deal value was not disclosed.