London-based Quiver has acquired SRT Group, the parent company of last-mile delivery platform Stuart.
Quiver acquired SRT Group from Munich-based private equity holding company Mutares.
Stuart was founded in Paris in 2015 and has grown in on-demand food, grocery and retail delivery across the UK, France and Poland.
Quiver was founded by Matthew Barrie and Louis Collar-Smith and started trading in London in 2022.
The deal brings together Stuart’s delivery network across the UK, France and Poland with Quiver’s retail technology platform.
Quiver describes itself as having a reputation for a profitable, high margin business model and a technology platform for high-street retailers.
Stuart spent three years under Mutares, during which it streamlined its operations. Stuart is on track to achieve independent profitability by early 2027.
That money is intended to support the expansion of Stuart’s instant and scheduled offering with the launch of new brands, and to improve the experience for clients and courier partners.
Quiver’s model lets retailers deliver to consumers directly from stores or via Quiver’s urban fulfillment centres.
The companies said Quiver can now lean into Stuart’s reach in the UK, France and other European markets such as Poland.
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In return, they said, Quiver’s ability to give couriers batched routes and sequences will give both firms an edge on competitors.
Stuart and Quiver will remain independent brands in the medium term, collaborating on tech, ops and commercial strategies and aiming to expand into high-end retail.
Cornelia Raportaru, CEO of Stuart, said: “The European delivery landscape is gaining a formidable new alliance. We’re thrilled to start this new chapter working with the Quiver team.”
She added: “Stuart is in a stronger position than ever.”
Matthew Barrie, co-founder of Quiver, said: “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.”
He continued: “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.
“With its geographical reach and heritage in the grocery, food and quick service restaurant sectors, Stuart is the perfect fit.”
The release says Stuart currently operates millions of deliveries every month in the UK, France and Poland.
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