Moira invests in logistics operator Goi

Moira acquired a stake of around 50% in the business via a capital increase, with a total investment of €17m, which will be deployed across three tranches, Sebastian Cerezo, a partner at Moira, told Unquote.

The company's founders will retain a 30% holding, while some minority shareholders - business angels and family offices which backed the company in 2017 and 2019 – will hold the remainder.

"Goi is one of the winners of the crisis," said Cerezo. "The company has been overloaded with new orders and clients during the pandemic and has been able to consolidate its business and more than double its revenues, showing its incredible high-growth potential."

With its financing and support, Moira intends to boost the company's expansion in Spain and internationally. Cerezo told Unquote: "We plan to support Goi's growth by increasing its current business lines ad further consolidating its presence across the Spanish market, while widening its customer base and expanding its commercial operations. We also intend to expand Goi's business internationally and have already identified some potential countries suited for our business model, such as Portugal and Mexico. The potential within this sector is huge and Goi's success has proven that it is a very resilient and dynamic industry, able to thrive even during a crisis."

Company
Based in Madrid, Goi specialises in the transport, delivery, assembly and installation of bulky household goods, furniture and appliances across Spain.

Its client base includes Spanish and international brands such as Amazon, Ikea, Leroy Merlin and El Corte Ingles.

The company generated revenues of €5m in 2019 and expects to reach €12m in 2020. It forecast an EBITDA margin of 15-17% by 2022.

People
Moira Capital Partners - Sebastian Cerezo (partner).

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