Two funds advised by Weil, Gotshal & Manges — one managed by Towarzystwo Funduszy Inwestycyjnych PZU and the other by Templeton Asset Management — made a EUR 81.7 million equity investment in easyPack, a company established in 2012 by Integer.pl Group and PineBridge Investments.
At the same time, BGK, the state-owned bank in Poland, provided a USD 36.7 million debt arrangement to easyPack. Integer.pl was advised by Baker & McKenzie on both the investment and loan while BGK was advised by White & Case.
easyPack is the global leader in automated services for e-commerce and the owner of the world's largest parcel lockers network. The proceeds of the equity investment will be used to accelerate the expansion of parcel locker networks in international markets while the debt arrangement is specifically focused on the roll-out of parcel locker machines in Canada. easyPack expects to have over 5,000 InPost lockers across Europe, North America, and the Middle East by the end of 2015, and will have funds to develop an additional 4,000 terminals from this investment round.
Rafal Brzoska, the Integer.pl Group CEO, commented: "We believe that these funds will help accelerate the growth of the business and take the company to the next level on its road to become a global platform for automated parcel delivery services. We also welcome new and reputable partners as shareholders and look forward to our cooperation.”
Pierre Mellinger, PineBridge Investment Managing Director, added: "PineBridge is enthusiastic that easyPack will further strengthen its leadership position in the market. This new round of investment is a recognition of the demand in the marketplace for its innovative B2C solutions globally."
From the equity investor side, Templeton Head of Private Equity Central & Eastern Europe, Matjaz Schroll, commented: "EasyPack’s parcel locker solution demonstrated a strong growth with e-commerce companies in Poland. We look forward to being a part of the Company’s continued growth and profitability in other markets as well," while Rafal Ryba, PZU Investment Director, said: "As part of PZU group’s strategy, we are excited to support innovative Polish companies, that are global leaders in their sectors. Moreover, we regard the accelerating global expansion of easyPack, as based on a proven business model and innovative, user friendly technology."
The Weil team working on the deal included Warsaw-based Partner Piotr Tomaszewski, Counsel Tomasz Siembida, Associates Karol Sowa and Piotr Fedorowicz, and London-based Senior Consultant Ian Hamilton.
The Baker & McKenzie team was led by Warsaw-based Partner Tomasz Krzyzowski, and included Associates Piotr Siezieniewski, Jacek Korzeniewski, and Attorneys-at-Law Pawel Jaros, Radzym Wojcik, and Dorota Dubyk.
Image Source: inpost24.com