- The newly enlarged group joins AIM as Sorted Group PLC, with Shard Credit Partners investing £1.6m
- Simon Wilkinson, Petar Cvetkovic and Dr Nigel Burton join Sorted’s board, with Mahmud Kamani and Richard Hughes also investing in the group
Manchester, 19th February 2024: Location Sciences Group PLC has today completed the acquisition of Sorted Holdings Limited, with the new enlarged group trading on AIM as Sorted Group Holdings PLC (SORT). The news comes as Shard Credit Partners, a partner to Sorted, has continued its support with an equity investment of £1.6m into the group.
First announced in summer 2023, the transaction provides the enlarged group with the investment necessary to continue implementing its business strategy and serving its corporate and enterprise retail customers, which include M&S, Boohoo and Asda. It will enable Sorted to continue its mission to bring ecommerce retailers of all sizes confidence in every delivery, every time.
The survey, consisting of 1,000 consumers and 250 retail leaders across the UK, revealed that 93% of consumers consider the post-purchase experience to be important. However, only 40% of retailers believe that the post-purchase experience is fully optimised, indicating that retailers need to invest more into their delivery experiences to fully meet growing consumer expectations in an increasingly competitive landscape.
Although both consumers and retail leaders agree on the overall importance of the post-purchase experience – with 93% and 74% respectively acknowledging its significance – the existence of a 20% disparity underscores that retailers still have a considerable distance to cover in order to fulfil customer expectations.
Sorted welcomes new board members
Today, Sorted also welcomes Simon Wilkinson as Chairman. Wilkinson is a highly experienced software executive and entrepreneur, having held senior leadership positions in a number of public and private companies throughout his career. Simon is investing in the group, alongside Mahmud Kamani, the founder of Boohoo Group, and Richard Hughes, the founder of Zeus Capital.
Additionally, Petar Cvetkovic and Dr Nigel Burton will join the Sorted board as Non-Executive Directors. Cvetkovic is Founder & Chairman of Welford Investments, and Dr Burton is currently a Non-Executive Director of BlackRock Throgmorton Investment Trust PLC, DeepVerge PLC, eEnergy Group PLC, Mobile Streams PLC and Microsaic Systems PLC. And Mahmoud Warriah, the CFO for the enlarged group, will join Carmen Carey, CEO of Sorted Group Holdings PLC, as Executive Director.
Carmen Carey commented: “This news marks another exciting stage in Sorted’s journey and brings a number of opportunities for further growth. Simon, Petar and Nigel have a wealth of experience, and further strengthen Sorted’s board. We look forward to working closely with them as we continue to bring outstanding delivery experiences to retailers and their customers.”
Simon Wilkinson, Chairman at Sorted Group Holdings PLC, added: “The transaction solidifies our collaboration with Carmen and the Sorted team. Sorted has leading edge technology and is deployed in some of the country’s premium retail brands. Bringing together Sorted’s technology and our experience and investors – including Mahmud Kamani and Richard Hughes – expands its potential even further.”
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About Sorted
In today’s delivery landscape, good experiences simply aren’t good enough. It takes an outstanding delivery experience to differentiate.
Sorted’s Delivery Experience supports retailers in providing exceptional delivery experiences and analysing post-purchase performance. It empowers customers to track deliveries and returns or exchange parcels effortlessly.
Founded more than a decade ago and recognised as one of the fastest growing companies in Europe by the Financial Times, Sorted delivers transformational tech on a global scale. Trusted by leading retailers – such as ASOS and Asda – Sorted helps brands to make five-star delivery experiences their superpower.
www.sorted.com
@SortedOfficial
Media contact
Leah Jones, ljones@thecommsco.com / +44 (0)7876 117760