Mutares to sell last-mile delivery platform Stuart to Quiver
What's the deal? MutaresDealroom has a profile for this one. Try Dealroom → has received an irrevocable offer from QuiverDealroom has a profile for this one. Try Dealroom → to acquire Stuart (SRT Group SAS and its subsidiaries), a European urban and last-mile logistics platform. The deal value was not disclosed, and closing is expected in Q4 2026, subject to employee-representative procedures.
What does Stuart do? The France-headquartered company connects businesses with a network of independent couriers for fast deliveries across industries, using its own proprietary IT infrastructure. It also operates in the UK and Poland, with a technology competence center in Spain.
Why now? The sale caps Mutares' buy-fix-sell cycle for Stuart, which the Munich-based private equity holding acquired from GeopostDealroom has a profile for this one. Try Dealroom → in 2023. Mutares says it diversified Stuart's client base, invested in its technology, and strongly improved costs per order.
By the numbers: Stuart now generates about €50 million in revenue and employs around 70 staff — down sharply from more than €400 million in revenue in 2022. The figures point to a substantially reshaped business, though sale proceeds and valuation remain undisclosed.
What's the endgame? The divestment advances Mutares' strategy of stabilising portfolio companies before selling them to buyers able to accelerate their growth. It also furthers the firm's effort to reduce exposure to its retail segment, alongside recent moves involving Prénatal Netherlands and Polish drugstore chain NaturaDealroom has a profile for this one. Try Dealroom →.
"It has been a pleasure to support Stuart's development over the past years," said Johannes Laumann, chief investment officer of Mutares. He added that Quiver "is the right partner to support Stuart in its next chapter."
The signal: The exit reflects how turnaround investors are reshaping Europe's competitive last-mile delivery sector, trading scale for leaner, technology-led operations. With the deal still pending, its financial contribution to Mutares remains unclear.
Read more: finanzen.at
Image credit: Generated with Gemini
