Mailpac heads towards IPO

• October 30 2019
• http://www.jamaicaobserver.com/business-observer/mailpac-heads-towards-ipo-sees-greater-growth-from-online-shopping_178422

Mailpac Group Limited, a company recently established to consolidate the operations of Mailpac Services and Mailpac Local, which are two e-commerce businesses owned by Norbrook Equity Partners (NEP), announced that it will be targeting an initial public offering (IPO) in the next few weeks.

The proceeds of the IPO will be used to repay the significant growth investment Mailpac Group received from NEP over the past two years, as well as to position the company's balance sheet for future growth.

Over the past two years, NEP invested over $250 million into the companies that make up Mailpac Group to revamp the company's infrastructure, technology and strategic positioning. These investments were made to enable broader market acceptance and faster growth by making shopping online easier, cheaper and more accessible for all Jamaicans. This strategy has paid off handsomely for Mailpac Group that now stands as the dominant market leader in local e-commerce, according to a recent news release.

“Over the past two years, with a rapidly crowding e-commerce market, NEP decided to make a significant strategic investment in Mailpac Group and its various business lines,” said Khary Robinson, executive chairman of Mailpac Group.

“The goal was to meaningfully differentiate the company from the many competitors in the space. Accordingly, we eliminated membership fees, reduced rates, and increased our distribution to eleven delivery locations.”

“More importantly, with our partners at Aeropost, we developed a number of exclusive technological and infrastructural advancements that has made Mailpac unique in its market offering,” added Robinson. “These advancements include a cutting-edge tracking and customer service app, free returns for all packages shipped through Mailpac, a personalised tax-free address available for use by all Mailpac customers, an exclusive landed price tool and shopping platform, an instant approval financing application, and exclusive technology integration with global leaders in ecommerce such as Amazon, eBay and FedEx.”

The introduction of these unique solutions has allowed Mailpac to further differentiate itself from other providers in the market and significant increase its growth in the process.