The Abraaj group acquires majority share in URBANO Express
The Abraaj Group, a leading investor operating in global growth markets, today announced the acquisition of a majority stake in URBANO Express, a leading courier and light logistics solutions company in Latin America with operations in Peru, Ecuador and El Salvador.
URBANO is the market leader for document delivery services in the three countries where it operates.
"We believe this is an opportune time to invest in the courier and light logistics sector in Latin America, which is enjoying high levels of growth as a result of strong consumer and corporate demand,” Miguel Olea, partner and regional head of Latin America at Abraaj,said. “Our investment in URBANO represents a partnership with a leading firm and an entrepreneurial management team who share our vision of growth for the business. Abraaj has a successful track record in the logistics sector in Asia, the Middle East and Africa and we look forward to bringing this expertise to bear in our investment in Latin America."
Abraaj and URBANO's management team will focus on enhancing the company's existing light logistics offerings while entering into new and complementary business lines that can further augment growth.
“This is an exciting period of growth for URBANO, and we look forward to a successful partnership with Abraaj.” Andres Borrero, CEO of URBANO, said. "With its track record of success in Latin America and its longstanding expertise in the global logistics sector, Abraaj is ideally placed to introduce new services and expand URBANO's product and service offering and geographic presence."