Fastway Couriers sells to Elysian Capital

Founded in 2002, Fastway Couriers is now one of the largest courier businesses in Ireland. With a logistic network of 24 locations nationwide, Fastway handles over 25 million parcels annually, as the delivery partner to over 7,000 clients. Fastway also operates Parcel Connect, Ireland’s largest network of over 1,300 local convenience stores that facilitate over 2.6 million transactions per year.

Danny Hughes, Fastway CEO, said: “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.

“We’re delighted to be backed by the team at Elysian to realise our exciting ambitions over the years to come”

Commenting on the transaction, Neil McGowan, Partner and Co-head of Investments at MML Ireland, said: “We are extremely pleased with our successful exit of Fastway.  The business has grown nearly three-fold since we invested which is a testament to the skill of Danny Hughes and the entire Fastway team.”

Danny Hughes, Fastway CEO, said: “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. “We’re delighted to be backed by the team at Elysian to realise our exciting ambitions over the years to come”

John Bowe John Bowe, Partner Mazars Deal Advisory, said “We were delighted to advise and support the shareholders on this transaction. Having advised the original shareholders in 2017 on the investment by MML, it has been a pleasure to see the phenomenal growth in the business over the last 5 years. This growth in a testament to Danny Hughes and the wider Fastway team ambition and the excellent support of the MML and Woodberry. I know Danny feels the journey is only starting and with Elysian Capital investment the future looks really exciting for Fastway.

Jack Jacovou, Partner at Elysian Capital, said “The courier and logistics markets have enjoyed strong growth in recent years fuelled by the rise of the ecommerce sector. 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.”