Adenia Partners – a leading private equity firm focused on growth opportunities in Africa – announced it has acquired 100% of The Courier Guy, which is a leader in last-mile delivery and express parcel (CEP) services in South Africa, along with co-investors DEG, Proparco, and South Suez. And this acquisition – made through Adenia Capital (V) LP – marks the second investment of Adenia’s fifth flagship fund, Adenia V, and demonstrates the firm’s commitment to the fast-evolving last-mile delivery landscape in South Africa. The financial terms of the transaction were not disclosed.
The Courier Guy is South Africa’s leading courier service with an extensive network of delivery partners, kiosks, and over 1,200 pudo smart lockers across the country. And it is at the forefront of providing innovative and customer-focused logistics solutions.
With the acquisition, Adenia will capitalize on the significant growth opportunities within South Africa’s last-mile delivery sector, driven by the exponential growth of e-commerce and the introduction of global marketplace giants to the country.
The debt financing for the transaction was provided by RMB, and advisors included PWC for financial and tax due diligence, Webber Wentzel for legal guidance, and EY for ESG due diligence.
KEY QUOTES:
“Partnering with Adenia and its co-investors opens up unprecedented opportunities for us to enhance our service offerings, boost operational efficiencies and accelerate our growth as we look to set new standards within the logistics sector. We can’t wait to see what the future holds for The Courier Guy as this collaboration unfolds.”
– Craig Pitchers, CEO of The Courier Guy
“The acquisition of The Courier Guy is a significant milestone for us and our esteemed co-investors, DEG, Proparco, and South Suez. It underscores our collective belief in the vast potential of the last-mile delivery sector in South Africa. Together, we are eager to further enhance The Courier Guy’s market position, stimulate innovation and expand its service offerings to meet the evolving needs of customers in South Africa and beyond.”
– Florent de Boissieu, Partner at Adenia
