Fastway Couriers is now one of the largest courier businesses in Ireland.
UK private equity firm Elysian Capital has acquired a majority stake in Irish logistics firm Fastway Couriers.
Elysian has acquired stakes in Fastway’s owner Parcel Connect that were owned by Woodberry Capital and MML Growth Capital Partners.
“The Fastway network, its valued staff and trusted franchisees, have achieved huge successes over recent years and we’re delighted to be backed by the team at Elysian to realise our exciting ambitions over the years to come”
Fastway’s CEO Danny Hughes and five other members of the management team will retain a minority stake in the courier firm.
Exciting ambitions
“We’re really pleased to announce this transaction and wish to thank MML and Woodberry Capital for their unwavering support over the past five years,” said Hughes.
“The Fastway network, its valued staff and trusted franchisees, have achieved huge successes over recent years and we’re delighted to be backed by the team at Elysian to realise our exciting ambitions over the years to come.”
Founded in Ireland in 2002, Fastway Couriers is now one of the largest courier businesses in Ireland. With a logistic network of 24 locations nationwide, it now handles over 25 million parcels annually, as the delivery partner to over 7,000 Domestic and International clients. It also operates Parcel Connect, Ireland’s largest network of over 1,300 local convenience stores that facilitate over 2.6 million transactions per year.
“The courier and logistics markets have enjoyed strong growth in recent years fuelled by the rise of the ecommerce sector,” said Jack Jacovou, partner at Elysian.
“We were attracted to Fastway by its unique courier franchise model and the opportunities to expand the service offering further, both into Ireland and internationally. We are delighted to be backing Danny and his team and look forward to our journey together supporting the business in this next exciting phase in the Fastway story.”
