Investment fund Abris Capital Partners bought the Romanian courier services provider Urgent Curier, which will further merge with courier company Cargus. The value of the transaction was not disclosed.

"Abris Capital Partners announces the acquisition of Urgent Courier, one of the top 3 internal courier companies in Romania. The transaction comes 20 months after Abris Capital Partners invested in the courier market in Romania, by acquiring Cargus in October 2012. The acquisition will be followed by the merger of the two entities, as equal partners," reads a statement of the company. 

Prior to this deal, Urgent Curier was controlled by Romanian entrepreneurs Sebastian Balasescu and Corina Balasescu.

Last year, Urgent Curier registered a turnover of some RON 116 million (EUR 26 million), up 28 percent against 2012, due to the growth of online sales. The company’s net profit reached RON 10.1 million (EUR 2.3 million).

Irina Popescu, irina.popescu@romania-insider.com

(photo source: urgent-curier.ro)