LONDON, October 1, 2014 /PRNewswire/ --
Completes first deal with significant capital raising for one of the UK's fastest growing e-commerce services businesses
Frost Brooks, the boutique private equity firm co-founded by mid-market private equity specialists Miles Frost and Peter Brooks, completed its first deal with a significant capital raising for Parcel Monkey, one of the UK's fastest growing e-commerce service businesses.
The new investment, which included commitments from Frost Brooks' founders and the firm's high-calibre network of HNW individuals and family offices, will enable The Parcel Monkey Group to accelerate UK growth and explore expansion overseas.
The Parcel Monkey Group, established by successful serial e-commerce entrepreneur Nav Ramiah, is a fast-expanding e-commerce services business. Its parcel delivery comparison service, Parcel Monkey, gives access to the cheapest delivery rates in the UK and is on track to becoming the biggest online portal for parcel delivery services in the country, with 300,000 registered customers.
Parcel Monkey's sister services, Cloud Fulfilment and Kong, which will be launched at the e-Commerce Expo this week, will help e-commerce businesses grow whatever their size. Cloud Fulfilment provides a pick-and-pack and dispatch service and a low cost multi-channel fulfilment platform linking with existing sales channels such as eBay, Amazon and customers' own websites. S
Kong is an easy-to-use e-commerce platform, giving users the ability to create and customise their own online store, process payments, and ship parcels/goods at very low costs within the UK and internationally.
Frost Brooks invests between £1-10 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, commented:
"We are delighted that our first investment is backing such a revolutionary business as The Parcel Monkey Group. Our ethos is to be patient in assessing investment opportunities for our network of family offices and HNW individuals. We could not have started with a better business and entrepreneur than Nav's Parcel Monkey Group."
Nav Ramiah, CEO, The Parcel Monkey Group, commented:
"This is a great statement of faith in the business and its future potential. Frost Brooks and the investors they bring with them, will help to accelerate our growth. We are on track to be the biggest online parcel delivery comparison service in the UK and have some exciting new services that are about to launch."
For further information, contact:
Elizabeth Vincent at Morgan Rossiter on +44(0)203-195-3240
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