The London Pensions Fund Authority (LPFA) and global private equity investor Adveq have co-invested in a UK postal operator with growth capital investor Next Wave Partners.

Secured Mail specialises in efficient bulk mail and e-commerce packet delivery and has delivered sales growth of 65%.

Alex Gracian, LPFA CIO, said: "Part of the investments strategy at the LPFA is to source cost effective co-investment opportunities that will add value to the fund. Working with Adveq we were able to achieve this, we are delighted to be supporting the UK SME sector though this investment."

Adveq managing director Tim Creed said: "We are delighted to be investing in Secured Mail's further growth and to bring our investors like the LPFA into such exciting opportunities."

Next Wave first invested in Secured Mail in 2011.

Jonathan Brod, Next Wave partner, said: "We are delighted to have attracted investors of the highest calibre in Adveq and the LPFA. Their investment will enable Secured Mail to continue to establish an even stronger foothold in the growing e-fulfillment market and grow at an impressive rate."

First published 11.12.2013

monique_simpson@wilmington.co.uk