Status: In Portfolio
Deal type: Management buyout
Investment date: May 2022
Dublin-based Fastway Couriers represents our third investment in the Irish market. Founded in 2002, Fastway is now one of the largest parcel courier businesses in Ireland.
With a network of 24 locations across the island of Ireland, it 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 more than 1,300 local convenience stores that facilitate over 2.6 million transactions per year.
“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. Their support and investment into the business will enable us to accelerate our growth plans via improved efficiency of our operations and targeted acquisitions into tangential markets.”
Chief Executive, Fastway
The business operates an asset light franchise model with c200 entrepreneurial Courier Franchisees across Ireland.
The business has long standing relationships with a number of large international customers and a diverse base of domestic Irish customers which value Fastway’s high service levels.
Over the last few years Fastway has benefited from the trend to online purchasing which is expected to continue with the company’s end markets forecast to grow.
We will work with management to continue the growth trajectory by leveraging Fastway’s infrastructure and customer base to broaden it’s service offering.
Continuing to invest in technology will both improve efficiencies and enhance service levels to customers.
Under our ownership, Fastway will: