Merger on Romanian parcel services market moves player up to 2nd place

Two parcel service companies active in Romania, Cargus International and Urgent Curier, both fully owned by investment fund Abris Capital Partners, will merge into becoming the second largest player on this market in Romania. The merger will see Urgent Curier absorbed by Cargus. The investment fund bought Urgent Curier earlier this year from local investors Corina and Sebastian Bălăşescu. The new company resulting after the merger will be the second largest parcel delivery company after the market leader FAN Courier, and will have a yearly turnover of EUR 52.5 million, outpacing the former second largest player, DHL Romania. The company, which will continue to run under the name Cargus, will have 1,800 couriers and 142 warehouses in its network. Gian Sharp, the current GM of Cargus, will also run the new entity, while the two former owners of Urgent Curier will join the new company’s board. Cargus increases number of parcel deliveries in Romania in first half of 2014 Cargus takes over Otto Curier’s clients in Romania