Mazars Corporate Finance are pleased to announce that we have acted as exclusive financial adviser to Fastway Group on its successful sale to MML Growth Capital Ireland Fund and Management. We acted for the majority shareholders and Management.
Fastway Couriers (Ireland) was founded as a franchise in Ireland 2001 having originated in New Zealand in 1983. It has expanded rapidly in recent years and now supports over 300 franchisees across Ireland with system revenues of over €70m. The network’s recent growth has been driven by customers such as Shop Direct (Littlewoods Ireland), ASOS, Boohoo, MissGuided, Sports Direct and iParcel and the continued growth of shopping online by Irish consumers. Its Parcel Connect business, which is also part of the deal, is Ireland’s largest pick-up and drop-off network serving over 850,000 users as a convenient way to collect and return goods bought online.
Fastway is an excellent Irish success story and it attracted a lot of interest from both domestic and international private equity. MML are a really a good fit for Bobby O’Keeffe (CEO) and the senior team and it will be exciting to see how they support Fastway on the next phase of its development.
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