Clearwater Capital completes an investment into Fastway Couriers with its partners City Logistics
Privately-owned City Logistics and private equity management group Clearwater Capital have partnered to acquire 100% of franchised courier company, Fastway Couriers South Africa.
Clearwater Capital will hold a 30% minority stake in the new structure.
The acquisition creates one of the largest turnkey logistics providers to the fashion, retail and e-commerce sectors, says City Logistics CEO Ryan Gaines.
In addition to this, the combined businesses will offer one of the most affordable delivery options in South Africa for small and medium-sized enterprises, as well as corporates, he adds.
The Fastway acquisition will also allow City Logistics to provide its existing and future customers with a small parcel solution.
The two companies share Mr Price group, Home Choice and The Foschini Group as customers.
