UK postal operator Secured Mail has secured a follow-on investment from backer Next Wave Partners.
Secured Mail will continue to invest in people, technology and infrastructure with the help of a new investment sum from its existing backer.
Having backed Secured Mail when it acquired the business in May 2011, Next Wave Partners is injecting an undisclosed amount so that it continue with its expansion plans.
Since receiving private equity support from Next Wave Partners, Secured Mail has grown its revenue from £48 million to £80 million.
Secured Mail chief executive Mark Bigley comments, ‘Since the first funding from Next Wave in 2011, we have gone from strength to strength, investing in our people, technology and infrastructure to become on of the largest postal providers in the country.
‘This new backing puts us in the perfect position for our next phase of development. We are committed to continued investment in the business to support our customers and provide the most reliable postal service in the UK.’
The backing for Secured Mail comes two months after it announced a tie-up with delivery company City Link. The cash, it says, will support the expansion of its home shopping packet solution, including investment into new machinery and new jobs at its sortation hub in Crick.
Secured Mail has sites in Northamptonshire and Kent and a client list including Amazon, Domino’s Pizza and Centrica.
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Stephen Walls, partner at Next Wave Partners, adds, ‘We are delighted to provide fresh development capital to Secured Mail and support Mark Bigley and the management team to drive continued market-leading growth.
‘The company is well-positioned to continue to capitalise on the opportunities in the growing UK e-commerce postal market and support UK businesses, who require a trusted operator with a reliable network to deliver their mail.’
Next Wave Partners is an SME and lower mid-market Growth Capital investor with £60million funds under management.