Investment funding recognizes SmartMail's leadership in new breed of expedited delivery services
October 2, 2000 -- SmartMail Services®, an emerging leader of expedited flat-sized mail and light parcel shipping services, announced today the expansion of its light parcel service to include parcels weighing up to five pounds. This announcement comes two weeks after SmartMail announced completion of its third round of funding with a $45 million investment led by Monitor Clipper Partners, Inc.
SmartMail provides an alternative to traditional mail and parcel delivery and offers significant discounts off USPS First Class™ and Priority™ rates for large-volume business mailers. Through its innovative business model and workshare partnership with the United States Postal Service (USPS), the company retrieves, sorts and aggregates flat-size mail and light parcels, expediting delivery and minimizing infrastructure costs for its customers. The company offers state-of-the-art tracking technology and serves the financial, manufacturing, retail and public sectors.
"SmartMail is a perfect fulfillment partner for traditional and e-commerce businesses that must increase fulfillment and supply chain efficiencies," said James Martell, chief executive officer, SmartMail Services. "Our additional funding enables the company to complete expansion of SmartMail's national distribution network and expand its light parcel service to include parcels up to five pounds."
According to Forrester Research, the number of packages delivered by e-commerce companies to residential customers is estimated to grow to 2.1 billion per year by 2003. The e-commerce sector, requiring responsive logistics and fulfillment services as larger numbers of people shop online, can benefit from the SmartMail solution with its focus on value-added services that ensure the correct delivery of mail and light parcels.
SmartMail Services, based in Atlanta, currently operates 11 SmartCenters -- technology-driven mail processing and distribution centers -- throughout the U.S. (Atlanta; Boston; Chicago; Cincinnati; Dallas; Detroit; Kansas City; Missouri; Los Angeles; New York; San Francisco and Tampa). SmartMail will open nine additional SmartCenters by the end of 2001, bringing the total number of SmartCenters to 20 nationwide. The company has more than 400 customers including Barnes & Noble.com, CVS Pharmacy, Nissan, Gateway, Talbot's, Tower Records, TD Waterhouse, CitiStreet and Sony Electronics.
About SmartMail Services
SmartMail is a privately held company based in Atlanta that currently operates 11 SmartCenters -- technology-driven mail processing and distribution centers -- throughout the U.S. (Atlanta; Boston; Chicago; Cincinnati; Dallas; Detroit; Kansas City, Missouri; Los Angeles; New York; San Francisco and Tampa). The company will open nine additional SmartCenters over the next 12 months, bringing the total number of SmartCenters to 20 nationwide. SmartMail clients include Nissan, Gateway, Talbot's, Dr Pepper/ Seven Up, Snapfish.com and CitiStreet. For more information, visit SmartMail's Web site at www.smartmail.com.
About Monitor Clipper Partners
In Monitor Clipper Partners, Inc. is a $630 million private equity investment firm formed in 1998 through the combination of The Clipper Group, an experienced private equity investment firm, and the Monitor Company, a leading international strategy consulting firm. Monitor Clipper Partners seeks to make private equity investments in middle market companies in North America and Europe to which Monitor Clipper Partners can add significant value through the combined skills of its principals and its privileged access to the proprietary consulting resources of the Monitor group of companies. For more information, visit Monitor Clipper Partners and Monitor's Web site at www.monitor.com.