Frost Brooks, the boutique private equity firm co-founded by mid-market private equity specialists Miles Frost and Peter Brooks, has completed its first deal with a significant capital raising for Parcel Monkey.
The new investment, which included commitments from Frost Brooks’ founders and also from the firm’s network of HNW individuals and powerful family offices, will enable The Parcel Monkey Group to accelerate its UK growth and explore expansion overseas.
It will provide the funds to help complete the development and boost the brand awareness of its new services and enhance the company’s ability to capitalise on a busy Christmas period.
The Parcel Monkey Group, established by e-commerce entrepreneur Nav Ramiah, is a fast-expanding e-commerce services business. Its parcel delivery comparison service, Parcel Monkey, gives customers access to the cheapest delivery rates in the UK. Parcel Monkey achieves big discounts from its partner premium courier companies such as DHL, Parcel Force and City Link, by grouping customers’ shipments and booking them through one account, passing these savings on to its customers.
Frost Brooks invests between GBP1-10 million of growth, equity-release and buyout capital in established, profitable, scalable, and high-growth companies with international aspirations.
Miles Frost, managing partner, Frost Brooks, says: “We are delighted that our first investment is backing such a revolutionary, exciting business as The Parcel Monkey Group. Our ethos is to be very rigorous and patient in assessing investment opportunities for our influential network of family offices and high-net worth individuals. We believe we could not have started with a better business and entrepreneur than Nav’s Parcel Monkey Group. It has a revolutionary, market-leading customer proposition, exciting new services and is globally scalable. At Frost Brooks we are not tied to any deal platform, our interests are completely aligned with our fellow investors and the entrepreneurs we back. We have no outside shareholder so can decide the timing of our investments and exits based on what is best for the businesses we back. As personal investors in the business we ultimately want to help The Parcel Monkey Group become as large as possible, and are not overly focused on how long that takes.”
Nav Ramiah, CEO, The Parcel Monkey Group, says: “This is a great deal for us and I think it’s a great statement of faith in the business and its excellent potential that we have succeeded in securing this investment. Frost Brooks, with the investors and advisors they bring with them, will make a huge contribution to our business and help to accelerate our growth. We are on track to be the biggest online parcel delivery service in the UK and we have some exciting new services that we are about to launch. E-commerce is one of the most exciting and high-growth areas of the UK economy and last year was the second fastest expanding market in Europe so it offers us great opportunities to build and scale the business.”
