Seller Diamond Logistics Ltd
Target Diamond Logistics Ltd
Deal Type Mergers & Acquisitions
Buyer Boost & Co
Transaction Description

Established in 1992, Diamond Logistics provides local, national fulfilment and delivery solutions to businesses across the UK via a network of over 30 micro fulfilment centres and twenty supply partners. Diamond Logistics is one of the UK’s fastest growing logistics companies, building businesses on their proprietary one stop logistics platform, Despatchlab.

Led by CEO and founder Kate Lester, Diamond has pivoted from being a traditional logistics business, operating its own fleet of vehicles and warehouses, to a technology provider. The platform the business has developed brings client users and network partners together combining a number of disparate services into a single user interface.  This has enabled end customers and third-party logistics providers to successfully support both SME and national retailers wanting to be on the forefront of the next stage in consumer fulfilment – same day delivery.

Kate Lester and her team, working alongside HMT, sought to raise development capital to continue developing the platform as well as accelerating the growth of the network, leveraging the traction built by Diamond over recent years, along with an acceleration of demand brought on by the recent lockdowns.

HMT, led by Managing Partner Andrew Thomson and Director Ricky Lane, were mandated to find an investment partner who would support the management team in delivering its ambitious growth plans and fully exploit the market leading technology in the fast-growing eCommerce sector. Boost’s investment will provide additional capital to allow the business to continue its impressive growth trajectory without diluting the existing shareholder base.

Industry Sector
ICFG Office

ICFG UK advised Diamond Logistics on their multi-million pound fundraise

Transaction Details

ICFG UK has advised fulfilment solutions provider, Diamond Logistics (“Diamond”), on their multi-million pound fundraise with growth capital and venture debt provider Boost & Co. The funding package will enable the business to dramatically accelerate their growth plans and invest in the continued development of their market disruptive “Despatchlab” platform.