HMT LLP advised fulfilment solutions provider, Diamond Logistics, on their multi-million pound fundraise with growth capital provider Frontier Development Capital.
Established in 1992, Diamond Logistics provides local, national fulfilment and delivery solutions to businesses across the UK via a network of over 40 micro fulfilment centres and twenty supply partners. Diamond Logistics is one of the UK’s fastest growing e-commerce fulfilment companies, building businesses on their proprietary end-to-end logistics platform, Despatchlab.
Led by CEO and founder Kate Lester, Diamond has pivoted from being a traditional fulfiment 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 several 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 same day delivery revolution.
The funding package will provide a successful exit for venture debt provider Growth Lending as well as giving Diamond Logistics additional capital to further accelerate their growth plans.
The HMT Team, led by Director Ricky Lane ran a competitive end-to-end process which identified Frontier Development Capital as the best fit for the business, and project managed the deal to a successful completion.
“This deal represents an inflexion point for Diamond as we continue to grow rapidly and build value in the business for both us and our network partners. It will enable us to expand our position in the market, continue our ambitious organic growth plans and scale the network through the continued rollout of our Despatchlab platform. The advice the HMT team provided was exemplary throughout, and we’d like to thank them for their continued support.”
– Kate Lester, CEO of Diamond Logistics
“I am pleased to have advised the management team at Diamond on their second fund raise in three years and delighted that the business has secured a funding package that will allow them to deliver on their ambitious growth plans. The transaction is an endorsement of the strength of the Diamond offering and in particular the Despatchlab platform in the third party logistics and e-commerce fulfilment sector and the ability the technology will give the business to build scale. FDC have provided a structure that will preserve cash flow in the business as it continues to mature and scale the existing partner network.”
– Ricky Lane
