NWP creates The Delivery Group to combine existing portfolio company Secured Mail and CMS Network (UK)
LONDON 27th MARCH 2015: Next Wave Partners LLP (“NWP”) is delighted to announce the creation of The Delivery Group Limited which has been formed to combine CMS Network (London) Limited (“CMS”) with its existing portfolio company, Secured Mail. CMS offers its clients a value-added complete mailroom outsourcing solution with significant clients in the financial and media sectors.
Secured Mail is a highly automated downstream access mail and ecommerce logistics operator with a national infrastructure and is building on its impressive growth track record to provide innovative services in the UK and Internationally to both its existing mail clients and new ecommerce and retail clients.
The transaction to bring CMS into The Delivery Group was funded by NWP and unitranche financing provider QInvest while existing working capital facilities provided by Shawbrook were extended.
Next Wave Partners LLP’s commented: “We are delighted to be backing Steve Stokes in his management buyout of CMS. CMS has a compelling market proposition with a strong culture of customer service and a creative approach to satisfying client needs. We believe its growth will be accelerated as part of The Delivery Group.”
CMS’s CEO, Steve Stokes commented: “This partnership is strong recognition of the quality of service we offer our clients and the growth we have achieved to date. Becoming part of The Delivery Group with NWP’s backing creates many opportunities for our clients and our staff.”
Secured Mail CEO, Mark Bigley commented: “We look forward to working alongside Steve Stokes and the CMS team to both drive synergies and further increase the range of products for our customers.”
Paul Carvell, Chairman of The Delivery Group commented: “Secured Mail and CMS will continue to provide the same great service to their respective clients under the same trading names and run by the same teams. Both businesses will however have access to a broader product range and customer base and look to increase the range of services offered. With Next Wave Partners’ support we will continue to expand our product offering through innovative solutions to our clients’ needs in a fast changing marketplace and will enhance the organic growth opportunities both in the UK and Internationally with further alliances and acquisitions where appropriate.”
Alongside Paul Carvell The Delivery Group’s board of directors will include Michael Owen as Chief Finance Officer, Secured Mail’s CEO, Mark Bigley, and CMS’s CEO, Steve Stokes as well as representatives of NWP.
