Earlier this week, SkyPostal Networks, Inc. announced the completion of $10 million of private placement financing. Falcon Capital, a London-based boutique investment banking firm, acted as placement agent for the financing.
Falcon Capital is an international group of consulting firms that provide a wide range of services to businesses. For small and medium-sized companies, Falcon provides business development and change management advice across a variety of industries in both established and emerging markets. Falcon serves over 1500 banks and financial institutions in over 70 countries across six continents.
In the last year, SkyPostal has been able to grow its customer-base along with the services it provides. The company’s first quarter 2008 sales results were reported at $2,440,801, which was a 40 percent increase over the same period in 2007. Improvements were also seen in total operating margin, which increased from 17 to 24 percent, and EBITDA, which increased 11 percent over the same period.
SkyPostal intends to use the funds to improve the hand-delivery network in the Latin America-Caribbean region (LAC) through: the deployment of its GPS delivery confirmation system; the expansion of the services offered to customers; and the possibility of future acquisitions. At this time, the company has exclusive agreements with over 20 private postal services through 20 different countries in the LAC. The current infrastructure allows for the delivery of more than 130 tons of mail per month.
“We believe this financing will enable SkyPostal to substantially accelerate progress toward our key strategic initiatives and solidify our market presence,” stated president and CEO of SkyPostal, Albert Hernandez. “With recent developments and the closing of this private placement, SkyPostal will be able to consolidate its network in LAC and expand its service offering to Europe. With this additional capital, we will be able to fast track the growth of the company both organically and through strategic acquisitions.”
Let us hear your thoughts: SkyPostal, Inc. Message Board
