Fastway Couriers appoints Mazars to lead review of Irish master franchise
Published 20/11/2016 | 02:30
The owners of the master franchise of Fastway Couriers in Ireland have appointed Mazars to lead a strategic review of their business, the Sunday Independent has learned.
Industry sources said the process could lead to a sale and that there was significant interest from private-equity players in both Ireland and the UK.
"As a matter of company policy, Fastway does not comment on rumour or speculation about any possible future franchise transactions, which may or may not occur, Fastway Ireland chief executive Bobby O'Keeffe told the Sunday Independent.
"Fastway is an international franchising business made up of a network of over 250 independent companies within Ireland operating as distinct entities in their own right," he added.
Fastway was set up in New Zealand in 1983 and came to Ireland in 2002, when the master franchise for this country was granted to Andy Hennessy and Gerry Riordan.
It has been in growth mode here, saying in September that it was looking to award up to 100 new Fastway franchises to Irish owner operators in 12 months.
"We are moving into a very exciting phase of expansion for the Fastway Group in Ireland. With this planned growth will come significant opportunities for motivated self-starters," O'Keeffe said as part of that announcement.
The company also said it was "benefiting directly from the rapid rise of online shopping, counting many of the leading online e-commerce businesses such as ASOS, Littlewoods Ireland, Zara, Oxendales, Boohoo.com, MissGuided and Amazon, among its customers".
Rivals in Ireland include DPD and Nightline.
Fastway itself was acquired by Dubai logistics and transportation group Aramex earlier this year. "The company has a strongly performing business, a well-recognised brand, a leadership position in the Asia-Pacific market, an excellent management team and large global customer base," Aramex boss Hussain Hachem said.
Sunday Indo Business