Munich-based investment group Mutares SE & Co. KGaA has received an irrevocable offer from Quiver to acquire Stuart, which Mutares describes as one of Europe’s leading platforms for urban and last-mile logistics. The group announced the offer on 26 October 2026 and said closing is expected in the fourth quarter of 2026, subject to the information of employee representatives.
Stuart, which operates as SRT Group SAS and its subsidiaries, connects businesses with a network of independent couriers for fast and flexible last-mile deliveries across industries. It is headquartered in France and also operates in the United Kingdom and Poland, with a technology competence centre in Spain. Mutares said Stuart generates revenues of approximately €50 million and employs around 70 staff. The transaction value was not disclosed.
A portfolio exit after a 2023 acquisition
Mutares acquired Stuart in 2023 and said the planned sale fits its strategy of stabilising and repositioning portfolio companies before divesting them to buyers able to support their longer-term growth. The divestment is a further step in reducing the group’s exposure to the retail segment, Mutares added.
Johannes Laumann, CIO of Mutares, said the company had diversified Stuart’s customer base, strengthened its operational and technological capabilities and improved its cost structure in recent years, and that Quiver was “the right partner to support Stuart in its next chapter”.
