RMB plays pivotal role in sale of The Courier Guy

RMB plays pivotal role in sale of The Courier Guy

RMB Corporate Finance facilitated the disposal of The Courier Guy (“TCG”) from existing shareholders to Adenia Capital (“Adenia”). In addition to acting as financial advisor to the sellers, RMB also provided an acquisition funding package to Adenia as the transaction sponsor. RMB will also continue to fulfil the role of transactional banking for TCG and is well positioned to provide growth capex for this fast-growing business in the near term.

“The sellers are made up of a consortium of financial investors as well as the company’s founder, and the broader RMB group’s strong relationships across this shareholder base made RMB Corporate Finance the ideal choice as financial advisors. In addition, RMB Leveraged Finance is providing an extensive acquisition funding package to Adenia as the transaction sponsor,” says Kirshna Nagar, Co-Head of Corporate Finance at RMB.

Founded in 2000, TCG has grown to become South Africa’s leading same-day, last-mile e-commerce courier, with a nationwide footprint and a wide range of local, national, and international courier services. TCG caters to a wide spectrum of clients and has consistently positioned itself as a preferred courier service provider thanks to its superior and reliable service offerings and comprehensive network across South Africa. This has been pivotal in TCG’s year-on-year market share growth and ultimately solidified TCG as a highly attractive proposition for investors seeking a foothold in a market experiencing robust growth and transformation.

In the first half of 2023, RMB embarked on a wide auction process, leveraging its international network and global partnerships to target a broad investor universe, with the process receiving a high degree of interest. Adenia ultimately emerged as the successful bidder, agreeing to a 100% acquisition, and allowing the sellers to exit at an attractive valuation.

“Adenia recognised the rapid and exceptional growth trajectory of TCG, and this complete acquisition showcases their confidence in the sustained success and future prospects of the business. RMB was able to tailor a well-structured deal that not only rewarded the sellers for their investment and commitment but also positioned them to fully partake in the extraordinary financial gains resulting from the business' remarkable growth trajectory since their entry,” Krishna Nagar concludes.