Elbrus Capital announced the investment in SPSR-Express
22 November 2012
The management of SPSR-Express, the largest private operator in the Russian express delivery market, private equity fund Russian Retail Growth Fund (financial advisor - Svarog Capital Advisors) and Elbrus Capital announced a transaction as a result of which the private equity fund advised by Elbrus Capital became one of the company’s shareholders. As part of the transaction, the fund advised by Elbrus Capital acquired some of Russian Retail Growth Fund’s stake in SPSR-Express.
SPSR-Express is the largest private company in the Russian express delivery market. The company provides mail and cargo delivery services to both corporate clients and private individuals, covering over 6,000 cities and towns of the Russian Federation through its infrastructure of 9 distribution centers, 200 branches and representative offices, about 4,000 full-time employees and 1,000 own vehicles. In the past few years, the company launched a number of new products met with high demand by the market, such as delivery of clients' orders via a network of postamats (PickPoint) or delivery of plastic cards to banks’ clients (KartaNaDom).
"The market for express delivery is far from saturation, and will continue its dynamic growth in the next several years. We welcome Elbrus Capital as one of our partners. We are confident that the support and expertise of Elbrus Capital will play an important role in the implementation of our strategy of further development", - said Vladimir Solodkin, founder and CEO of SPSR-Express.
Oleg Tsarkov, Managing Partner of Svarog Capital Advisors, commented on the deal: "We would like to thank our partners in this business which has grown manifold over the past several years thanks to the joint efforts of management and shareholders. We are optimistic about the future of the company and are pleased to welcome the new partner".
Dmitri Krukov, Managing Partner of Elbrus Capital, commented on the deal: "Significant growth of the Russian economy, the development of inter-regional business connections in Russia and the development of e-commerce facilitate accelerated growth of the express delivery market. We are happy to become partners with the company's management and Svarog Capital Advisors and will use our considerable resources, technology and experience to further develop SPSR-Express as the leader of the Russian market.
About Svarog Capital Advisors
Svarog Capital Advisors is one of the largest investment management consultants in the CIS. Svarog Capital Advisors is the exclusive financial advisor to Renova Capital One, Russian Retail Growth Fund and Earlier Stage Alternative Fund, which together invested more than US$ 400 million into portfolio companies in various sectors of economy.
Russian Retail Growth Fund is a private equity fund established in 2007. The size of the fund is US$ 250 million. The fund invests in companies whose growth is fueled by increasing consumer demand, primarily in retail and related industries.
About Elbrus Capital
Elbrus Capital is a leading private equity business in Russia and the CIS. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed $600 million. Key investors in the funds are large international institutional investors and international development institutions.
Back to the list