Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
FRP Corporate Finance has secured a £45m refinancing package for The Delivery Group to support the logistics firm’s long-term expansion.
The deal provides the Warrington-based business with significant capital for new operational investment and increased headroom for its e-commerce strategy.
The FRP debt advisory team, led by partner Tom Cox and associate director Rahool Patel, optimised and executed the new hybrid asset-based and cash flow facility. The advisers managed the process through credit approvals and led commercial negotiations with the lender, Investec.
The Delivery Group, which is backed by private equity firm Next Wave Partners, operates four UK sorting hubs and employs more than 450 people. The business has the infrastructure to process more than one billion parcels and specialist mail items annually.
The transaction marks a continuation of FRP’s relationship with the group, following a previous engagement in 2023 to upsize its banking facilities. The new package is an increase on the prior arrangement and is designed to support the retailer’s rapid growth in the SME e-commerce sector.
FRP Corporate Finance partner Tom Cox said: “Finding the right financing structure was essential to support The Delivery Group’s ambitious expansion plans. We had a strong existing relationship with the business and Next Wave Partners already and were able to leverage our extensive knowledge of its operations to secure a hybrid asset-based and cash flow lending package that provides the business with resources to support the next phase of its rapid growth.”
The Delivery Group group chief executive Michael Owen added: “This refinancing with Investec delivers the financial structure and flexibility we need to continue delivering on our strategic growth plan. I’m grateful for the support the team at FRP Corporate Finance has provided throughout this transaction. Once again, they’ve applied their expertise and experience to help us secure a package that’s just right for our needs.”
