Elbrus's SPSR to merge with DPD

Following the deal, Elbrus will retain a minority stake in the consolidated business with DPD's trade owner Geopost – itself owned by France-based La Poste – holding a majority stake. The remaining shares will be owned by the merged company's management team.

Geopost's former general manager for Russia, Nikolay Voinov, will take on the role of CEO at the business. SPSR's founder and CEO, Vladimir Solodkin, will act as chairperson of both the company's board and its strategic committee.

The new business will invest in its IT infrastructure in order to meet increasing demand for courier services due to growth in the Russian e-commerce market. It will also look to increase its business-to-business operations.

During Elbrus's initial investment, SPSR expanded with the launch of its international division in 2013.

The merger is expected to complete in Q1 2017.

Previous funding
Elbrus acquired a minority stake in SPSR in November 2012 from the Svarog Capital Advisors-managed Russian Retail Growth Fund.

Company
Founded in 2001, Moscow-headquartered SPSR is a logistics business focusing on postal services, express deliveries and warehouse logistics. The company has a headcount of 4,000 and a fleet of around 1,000 vehicles. It operates nine distribution centres and 15 sorting centres, in addition to having 200 offices serving a network of 6,000 towns and cities.

People
SPSR Express – Vladimir Solodkin (founder, CEO).

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