ByBox provides supply chain solutions to more than 250 blue chip clients, including Siemens, Vodafone and Hewlett Packard Enterprise, helping to move critical parts to and from field engineers using market-leading technology and a network of more than 1,000 locker locations.
In August 2016 LDC provided £37.5million of development capital to accelerate the international growth of ByBox, in a transaction that valued the business at £105million.
ByBox has invested in new product development with the launch of Konnect™, an innovative global solution that simplifies the last mile of the field service supply chain. The technology pairs Bluetooth lockers with app-enabled software, dramatically improving security and efficiency, whilst eliminating unnecessary transport costs.
In 2018, ByBox increased its global presence, launching a new office in Burlington Massachusetts, as well as two satellite offices in Atlanta and Denver to help it meet global customer demand. The business also relocated its UK headquarters from Didcot to nearby technology-hub Oxford Science Park to accommodate its growing headcount of 450.
Since LDC’s original investment the business has grown significantly and doubled in value. In September 2018, LDC exited its investment in ByBox, in a £221million sale to Francisco Partners.
In October 2018, LDC completed a minority reinvestment in ByBox alongside Francisco Partners. This will allow LDC to continue to support the management team on the next stage of the company’s growth journey.
LDC are insightful and supportive investors who have worked closely with the ByBox team to formulate and execute a successful strategy. The next phase of this strategy is characterised by ongoing investment in our UK business as well as driving our international expansion.Stuart Miller, Co-Founder, ByBox