Lender to Fastway Couriers appoints receivers after it failed to secure new capital
A receiver has been appointed to Fastway Couriers, the private equity-backed delivery company which employs 300 people, after it failed to secure a new investor. Over 600 more people indirectly work with the business as independent couriers, franchisees or occasional workers so up to 1,000 people may be impacted. Debt provider Muzinich appointed Mark Degnan and Brendan O’Reilly of Interpath Advisory as receivers on Tuesday afternoon. Elysian Capital acquired Fastway from MML Growth Capital Partners Ireland and Woodberry Ireland Capital in 2022 for €33 million. Muzinich and Elysian agreed to extend a further €11 million in funding to the business in…
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