Stuart: The European delivery landscape is gaining a formidable new alliance.
SRT Group, parent company of leading last-mile delivery platform Stuart, today announces its acquisition by UK technology firm Quiver.
Founded in Paris in 2015, Stuart has grown rapidly, particularly in on-demand food, grocery and retail delivery across the UK, France and Poland.
The brainchild of two UK tech entrepreneurs, Quiver has garnered a reputation as a profitable, high margin business model, providing a best-in-class technology platform to high-street retailers.
Together, the two companies’ combined expertise will deliver greater value to enterprise and retail, grocery and food delivery clients across Europe and support market-leading innovation in last-mile delivery.
The deal involved Quiver acquiring SRT Group from Munich-based private equity holding company Mutares. Following a successful three-year partnership under Mutares’ stewardship, Stuart streamlined its operations and built a strong foundation for its next phase of growth. The company is now well positioned to scale and is on track to achieve independent profitability by early 2027.
The deal includes significant new investment in Stuart’s operations and technology to support the expansion of its instant and scheduled offering with the launch of new brands, and to improve the experience for clients and courier partners.
Quiver’s model provides retailers with a holistic delivery service that offers them the convenience of delivering to consumers directly from stores, or via Quiver’s urban fulfillment centres. With its expertise built by focusing on major cities, the deal now means Quiver can lean into Stuart’s geographical reach in the UK, France and other European markets such as Poland. In return, the Quiver platform’s ability to provide couriers with highly productive and efficient, batched routes/sequences will give both companies the clear edge on competitors.
Stuart and Quiver will remain independent brands in the medium term, collaborating on tech, ops, and commercial strategies to deliver better value to retail, grocery and food delivery clients and expand into high-end retail.
“The European delivery landscape is gaining a formidable new alliance. We’re thrilled to start this new chapter working with the Quiver team,” said Cornelia Raportaru, CEO of Stuart. “Stuart is in a stronger position than ever. This fresh energy, direction and technical capability proven with retail partners will enable us to deliver even more innovation and better service, shaping the future of last-mile logistics across any type of business.”
“We’ve spent the last four years building a technology platform for retail; making ship-from-store, returns and exchanges really work for brands and their customers. Bringing Stuart into the business gives us scale, talent and a new roster of clients that helps us take the service to new sectors and new markets,” said Matthew Barrie, co-founder of Quiver. “With its geographical reach and heritage in the grocery, food and quick service restaurant sectors, Stuart is the perfect fit.”
