Temple Bright advises on sale of parcel tech business Pelipod to BT
Tech City law firm Temple Bright has advised the owners of Pelipod, a young secure parcel box business, on their sale of the company to British Telecommunications PLC.
Launched in 2013, Pelipod has in just three years become a competitor in the market for low cost unattended parcel boxes for business. The system offers an efficient and green alternative to the conventional reliance on distant locker boxes and central depots, avoiding the additional time, expense and pollution involved in collection.
Karl Wills, the founder of Pelipod, will stay on as managing director after the deal. He said: “This transaction really does represent a ‘win-win’ for all concerned. I am delighted that the support from Pelipod’s loyal investors has been rewarded, and I am also extremely excited at the opportunity to work with BT in continuing to develop the Pelipod business and product range to its full potential.”
Temple Bright partner Stuart Hutson said: “We were delighted to advise the shareholders of Pelipod, a young company which embodies how technology, combined with a strong idea, can solve a problem and win the attention of large corporates. The business is now well placed to develop its position in this evolving marketplace.”
Temple Bright was established in 2010 using a tech-enabled, streamlined business model and now has 51 partners with offices in London and Bristol. The firm has a particular focus on corporate finance work across a range of sectors, most notably technology. Temple Bright advises numerous early stage and high growth companies.
This article appeared on the Bdaily website on 6 October 2016.