Debt Refinancing

Technology & Services
Debt Refinancing

Summary

Baird served as the exclusive debt advisor to The Delivery Group on this transaction

About

The Delivery Group Limited (“The Delivery Group” or the “Company”), a portfolio company of Next Wave Partners LLP (“Next Wave Partners”), recently completed the acquisition of P2P Mailing Limited (“P2P”) raising a £35,000,000 Senior Credit Facility (“The Facility”) to fund the acquisition and refinance existing debt.

The Delivery Group, created in 2015, combines Secured Mail, CMS Network (London) and P2P under common ownership and is a leading provider of e-commerce logistics services, delivering over 500 million items a year across the United Kingdom and internationally. Secured Mail provides automated collection and sortation of domestic e-commerce consignments and direct marketing mail delivered into the Royal Mail’s downstream access points. P2P provides international e-commerce parcel delivery solutions with a focus on UK-outbound delivery, offering a range of tracked (through its “TRAKPAK” brand) and untracked services. CMS Network specializes in managed mail services including managed mail rooms, and specialist financial document delivery and a full range of international courier services. The Company is headquartered in Warrington, the United Kingdom.

Next Wave Partners is a private equity fund manager focused on investing transformational growth capital. Founded in 2002, Next Wave Partners raised its first external fund in 2007 and now has assets under management of €350 million. Next Wave Partners invests in fast growing, established businesses with strong positions in developing markets and clearly identifiable growth opportunities. Next Wave Partners targets companies in the business and consumer services sectors. Next Wave Partners is headquartered in London, the United Kingdom.

MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to businesses across all industries with over $8 billion of commitments under management as of January 2016. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, LLC. Apollo Global Management is one of the world's largest asset managers with over $180 billion of assets under management as of June 2016, providing market leading industry expertise, market reach, and financing synergies. MidCap Financial is headquartered in Bethesda, Washington D.C.

For additional information about this transaction, please contact:

Paul Bail +44 (207) 667-8271
David Silver +44 (207) 667-8216
Howard Lanser +1 (312) 609 5478
Martin Luen +44 (207) 667-8381
Technology & Services
Debt Refinancing
Date
October 2016
Company
The Delivery Group
Transaction
M&A
Sectors
Technology & Services
Target Location
Europe
Acquiror Location
North America

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