A little more than 4 years after its investment, Sparring Capital is pleased to announce the sale of its stake in IMX to bpostgroup.
A true alternative private post office, IMX is an operator that specializes in cross border e-commerce logistics and has developed unique expertise in optimizing international mail and parcel shipments. Based in Pantin, France, where it has a logistics center, the company relies on agreements with nearly 250 operators worldwide and a national collection network. IMX has a custom IT tool, developed in-house, whose algorithms constantly simulate and optimize possible routes, enabling it to offer its customers personalized and highly competitive shipping solutions.
Convinced of the group’s development potential in the parcel business, Sparring acquired a majority stake in IMX in October 2017 as part of the Naxicap exit.
From then on, the company accelerated its efforts in a fast-growing sector: cross-border e-commerce of small parcels (< 2 kg). Through a wide range of services, IMX targets e-commerce operators (IMX Pack) and e-buyers from all over the world and in particular those from overseas who wish to have products delivered from European websites (ColisExpat), and also offers parcel delivery solutions to individuals and small retailers (Happy Post).
With the support of Sparring, the parcel business grew from 25% to 75% of revenue between 2017 and 2021, driven in particular by specific commercial work on major B2C and retail accounts (including L’Oréal, Etam, and Promod) for which the company has developed a unique and personalized offering combining multiple distribution options (home delivery, collection points, lockers, ship from store, and goods returns). Its digital activities have also been strongly diversified and developed during the period.
The merger between Landmark Global, bpostgroup’s international business unit, and IMX, which are long-standing partners, fits perfectly with their respective development strategies and will strengthen the existing collaboration. For IMX, the addition of an industrial partner is a way to further develop its e-commerce offering and expand the cross-border delivery services it provides to its customers.
Laurent Cayet, President of IMX, said, “Sparring Capital shares our values and was able to support us in this phase, which played a strategic and critical role in the group’s development. We would like to thank them for their support and commitment to our business, and are extremely pleased with this merger with bpostgroup, which further strengthens our positioning. Both companies are long-standing business partners who know and trust each other. We look forward to sharing with our customers the new opportunities that this strategic move brings.”
Denis Catz, Partner at Sparring Capital, added, “We were attracted by IMX’s unique positioning, the expertise of its management and the potential of the parcel market, driven by the strong growth of e-commerce. With this merger, IMX joins a business partner that it knows well, and the synergies we have identified will allow IMX to capitalize on new growth opportunities. We are pleased with the company’s progress and the contribution we have made to this great success.”
“bpost continues to invest in its future and this acquisition fits perfectly with our strategy to become a major player in e-commerce logistics in Belgium, Europe and North America. This is an exciting new step in our journey. We said we had to strengthen our European operations and that’s exactly what we’re doing,” said Dirk Tirez, bpostgroup’s CEO. “Through our acquisition of IMX, we are also developing digital solutions that are poised for continued and rapid growth and are in line with the broader e-commerce activities in Europe.”
Key players:
Sparring Capital
Denis Catz, Alexandre Beau
IMX Management
Laurent Cayet, Sonia Milenkovic, Laurent Voute
Legal advice to sellers
HPML
Thomas Hermetet
Financial assistance to sellers
Adventus Partners
Christophe Barraud
bpostgroup
Legal advice
RTV&R
Financial advice
8Advisory