Lloyds Banking Group’s private equity arm LDC has invested GBP11million in James and James Fulfilment to boost its software services and operating infrastructure.
Lloyds Banking Group’s private equity arm LDC has invested GBP11million in James and James Fulfilment to boost its software services and operating infrastructure.
James and James provides online order fulfilment to e-retailers, storing products, packing and shipping orders, and handling any returns. This enables clients to increase order volumes, enhance customer experience, and improve stock and inventory management, according to the company. The business has operations in the UK, US and New Zealand.
The deal was led by LDC investment director Chris Baker and investment manager James Garland. As part of the transaction, Chris Baker and LDC’s Lawrence Dean will join the board of the business as non-executive directors.
LDC is partnering with the management team led by founder and CEO James Hyde, COO Neil Sant and CFO Simon Lisser. LDC’s investment will be used for investing in a new larger UK fulfilment centre, to enhance its technology proposition, and expand the business’ client service and commercial functions.
In the last three years, revenue at James and James has grown by 50 per cent pa to GBP17.4million, and the firm currently employs more than 100 people worldwide.
“The rapid growth of James and James is down to its highly ambitious and committed management team who have built a market-leading online and digital presence to attract a loyal and international customer base,” said Chris Baker, investment director at LDC.
James Hyde, co-founder of James and James Fulfilment, said: “James and I created the business to challenge the industry and create technology-led solutions which are fit for today’s rapidly-evolving online retail market. The logistics industry has generally been behind in its adoption of technology, but the demand for more modern systems is greater than ever.
LDC was advised by Grant Thornton, PMSI (Commercial), Crowe (Financial), Silxo (IT) and Osborne Clarke (Legal). James and James Fulfilment was advised by HMT.
