Oktober 2018
UK & Ireland, £100m - £500m

Liberty advises the management of ByBox on LDC’s sale to Francisco Partners

Liberty is pleased to announce that it has advised the management team of ByBox on its acquisition by Francisco Partners from LDC.

ByBox, specialists in smart locker technology and field service solutions, today announced a strategic investment from Francisco Partners that values ByBox at £221 million. The private equity firm backs ambitious technology-enabled businesses and will support ByBox’s expansion of its UK infrastructure and global deployment of its ‘Konnect’ app-locker solution.

Working with Francisco Partners will enable ByBox to accelerate the deployment of its ground-breaking app-locker technology both in the UK and across key global markets. ByBox’s app-lockers systematically address the core challenges of the field service supply chain. This should be welcome news to ByBox’s customers, who grapple constantly with how to permanently extinguish unnecessary costs.

The transaction marks an exit for LDC, a mid-market private equity investor.  LDC originally provided £37.5 million of development capital in 2016. In the last two years the business has grown significantly and doubled in value.

Liberty were appointed to advise the management team on their incentive plans having originally advised them on the LDC transaction in 2016.

Simon Hill, Liberty comments: “ByBox has been a fantastic success story and having delivered a great outcome in a mere two years it’s been a genuine pleasure to work with the team again as they take the next step forward with Francisco Partners."