![[South Africa] Adenia Partners acquires last mile delivery services company The Courier Guy](/assets/components/phpthumbof/cache/Adenia_partners_logo_marketing_Africa_business_communities.5d1980509d902384ff1c11754ca09153.jpg){kind=logo}
[South Africa] Adenia Partners acquires last mile delivery services company The Courier Guy
Adenia Partners, a leading private equity firm focused on growth opportunities in Africa, has acquired 100% of The Courier Guy, a player in last-mile delivery and express parcel (CEP) services in South Africa, alongside co-investors DEG, Proparco, and South Suez.
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. Financial terms of the transaction were not disclosed.
The Courier Guy is South Africa's courier service with an extensive network of delivery partners, kiosks, and more than 1,200 pudo smart lockers across the country. It is at the forefront of providing innovative and customer-focused logistics solutions.
Through the acquisition, Adenia will look to capitalise 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. South Africa's e-commerce market is expected to reach US$16.3 billion by 2030, with an annual growth rate of 15%, according to a RationalStat report.
With rising demand for a fast and reliable online shopping journey, the importance of trust and reliability at the final step of delivering a parcel – at the last mile – cannot be overstated.
Craig Pitchers, CEO of The Courier Guy, shared his optimism about the new partnership: "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."
Florent de Boissieu, Partner at Adenia, remarked: "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."
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.
