A former chief executive of Dunelm has joined the board of an international freight logistics and express courier specialist after it secured a £15m investment.
Greater Manchester-headquartered ITD Global has received the backing from BGF to help it "deliver its ambitious growth plans" through the expansion of its UK depot network, further development of its technology platform and growing its newer services in fulfilment and returns.
As part of the deal, John Browett has joined the board of directors as independent non-executive chairman.
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Mr Browett has previously been CEO of Dunelm, Dixons Retail and Monsoon Accessorize. He has also held senior roles at Apple and Tesco.
ITD Global operates in six locations across the UK, Netherlands, China and Hong Kong, with an additional site in Glasgow opening in early 2023. It generated more than £60m revenue in its latest financial year.
CEO Jonathan Mocton said: "The e-commerce sector has experienced considerable growth in the last two years, building on what was already a highly robust base.
"With our technology enabled propositions allied to our extensive industry connections, warehousing, e-commerce, consolidation and freight expertise, we have been able to continue our strong growth journey and capitalise on the significant market opportunity that exists.
"To achieve our wider strategic aims, we were keen to find a minority investment partner that recognised the vast potential of ITD, but also that has a patient and long-term outlook, combined with a strong track record of helping businesses scale, both domestically and overseas. In BGF we have found that partner and we’re delighted to be welcoming them into the business."
The deal was led by Harry Jones and Josh Bean, investors in BGF’s Manchester team, and Simon Rogers, ITD Global’s CFO. Ex-CEO of iForce Brian Gaunt will continue in his role as non-executive director.
Mr Jones added: "ITD Global has really established itself as a major player in the UK logistics sector – championing tech-enabled solutions to not only drive growth within the business, but also for its customers through leading parcel consolidation techniques, as well as offering tailored freight solutions that have helped navigate the global supply chain issues over recent years.
"We are delighted to announce our investment into ITD Global and look forward to working with the team to develop its geographic footprint and service offering."
Advisors to BGF on the transaction were Hill Dickinson (legal), Hurst (tax) and Waypoint Partners (financial DD). Advisors to ITD Global and Management were BBS Law (legal) and Forbes Dawson (tax).
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