UK technology company Quiver has acquired Stuart, the last-mile delivery platform operating in the UK, France and Poland.
Quiver bought Stuart’s parent company, SRT Group, from Munich-based private equity group Mutares. Stuart and Quiver announced the deal on 12 November; Mutares announced the sale on 2 November. The price was not disclosed.
The businesses
- Stuart was founded in Paris in 2015 and connects businesses with independent couriers for on-demand, same-day and next-day delivery, particularly in food, grocery and retail.
- Mutares, which bought Stuart in 2023, said it employs about 70 staff and has revenue of about €50m.
- Stuart said it is on track to reach independent profitability by early 2027.
- Quiver, founded by Matthew Barrie and Louis Collar-Smith, started trading in London in 2022. Its software connects to retailers’ online stores so orders can be picked from shop stock, with delivery within one to two hours, same day before 8pm or in booked windows, plus returns and exchanges collected by the courier.
The two will remain separate brands in the medium term, working together on technology, operations and commercial strategy. The deal includes new investment in Stuart’s operations and technology, the launch of new brands and a move into high-end retail.
Matthew Barrie, co-founder of Quiver, said the acquisition brings scale, talent and new clients, and takes the service into new sectors and markets.
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