Castle Corporate Finance Limited (“Castle”) has advised the founder and shareholder of Parcel Safe Place Limited (“Parcel SafePlace”) in relation to its sale to ASK4 Limited (“ASK4”).
Parcel SafePlace is a leading digital concierge, providing secure, tech-enabled parcel delivery solutions for multi-tenant buildings. The company is trusted by operators and developers for its intelligent, data-driven parcel management solutions, including secure 24/7-access Parcel Rooms, PSP Lite, SmartVault storage, and Amazon Key for Business integration.
Parcel SafePlace currently supports over 99,000 units and has handled more than 2.6 million parcels in the past 12 months alone. It is a proven solution to one of the most persistent challenges in high-density living: managing the growing volume of parcel deliveries efficiently, securely, and at scale, to save time and streamline operations for property managers.
ASK4 is a market-leading managed service provider of high-speed Internet, WiFi, and managed IT services for multi-tenant buildings. With 25 years of experience, ASK4 supports building owners, operators, and residents in the UK and 11 European countries, delivering high-performing connectivity to over 360,000 end-user customers every day. ASK4 partners with some of the largest real estate developers, investors, and operators in the student housing, build-to-rent (BTR), co-living, and later living sectors, and delivers bespoke solutions designed to meet the needs of complex, high-density living environments.
As part of the ASK4 Group, the Parcel SafePlace brand and team will benefit from enhanced technical infrastructure, investment capability, and operational support. Together, the companies will accelerate the rollout of smart parcel technologies and explore new ways to add value across a range of sectors.
Jon Thornhill, Group Strategy Director and Commercial Director at ASK4 said: “Parcel SafePlace solves a real and growing issue for our clients – securely and efficiently managing parcel deliveries at scale in a way that enhances the resident experience. We know that the Parcel SafePlace team have built a valuable proposition for the multi-tenant sector and we are excited to get behind its next phase of growth and innovation.”
Andrew Dutton, CEO of ASK4 commented: “The acquisition of Parcel SafePlace is a significant step in ASK4’s strategy to deliver networked infrastructure services to power connected communities in multi-tenant buildings. This is part of a wider acquisition programme supported by our investors at GI Partners, focused on delivering essential value-adding smart living services into student housing, build-to-rent, co-living and later living across the UK and Europe.”
Dustin Fjeld, Founder and CEO of Parcel SafePlace, added: “Joining forces with ASK4 unlocks powerful opportunities to scale our solutions, invest in new innovation, and better serve our clients and partners. We share a common vision of delivering practical, high-impact technology that improves everyday life in residential buildings, and we’re excited to build the future of data-led multi-tenant living, together, providing even greater value to our clients and the wider real estate sector.
Castle Corporate Finance came recommended to us by our lawyers. Selling my business was a major event for me, and something I had not experienced before. It was therefore important to have a respected and experienced corporate finance team that was able to lead me through the process and ensure I got a deal that aligned with both my day one requirements and long-term aspirations. Castle worked relentlessly to ensure a successful outcome for me, providing invaluable commercial advice on all key aspects of the transaction, together with proactive project management of all parties and processes. Castle was on hand throughout and always had my best interests in mind. I am very pleased with their service and the deal we closed.”
Stuart Stepney, Managing Director, Castle Corporate Finance, commented: “Dustin is the sort of entrepreneur we love to work with and has created an amazing business from scratch. The transaction unites two influential forces in the multi-tenant sector and creates an excellent opportunity for Parcel SafePlace to scale to new heights. It was a real privilege to have worked alongside Dustin on this hugely important transaction and wish everyone involved all the success in the future.”
Castle Corporate Finance acted as lead adviser to Parcel Safeplace, led by Stuart Stepney, Managing Director, assisted by Alex Nursey, Senior Manager, with legal advice provided by Trowers & Hamlins LLP; and financial and tax advice from Crowe UK LLP.
Legal advice to ASK4 was provided by Walker Morris LLP; and transaction advisory services from Kroll Advisory.
