Moira Capital Partners, a private equity investment firm specialized in direct investments in innovative Spanish companies, will acquire around 50 percent of GOI, the first logistics operator exclusively focused on the transport, packaging, and assembly of bulky goods.
The company founded three years ago by the entrepreneur Yaiza Canosa, will have a turnover of €12 M in 2020.
Moira will invest 17 million euros through a capital increase which will be used to develop the Business Plan, mainly the necessary working capital to undertake the rapid growth of its income and the strengthening of the team. In this deal, GOI has been advised by Jordi Nieto of Ennegram Capital Partners.
This will be the second deal for Moira Capital during the COVID -19 crisis followed by the entry of the fund Blue Horizon Ventures in its portfolio company Cubiq Foods last May.
The bulky goods transport sector is experiencing a very significant growth in the recent years, above the traditional parcel industry, thanks to the exponential increase in the sale of bulky goods online, whose penetration was low compared to that of the parcel. This growth is expected to accelerate in the coming years, further, if possible, by the situation led by COVID-19, with online consumption growing very fast.
GOI has developed a unique model within the bulky goods logistics sector. It is based on the creation of a national network of collaborators in all phases of the logistics value chain and on the use of proprietary technology that allows for real-time tracking of shipments, monitoring delivery and optimizing the route network, substantially reducing delivery times. All this considerably minimizes incidents, increases the quality of the service, and maximizes the satisfaction of the final user, benefiting both the manufacturer and the retailer, promoting loyalty to its customer and consumer. Companies like IKEA, Amazon or Leroy Merlin, among others, trust GOI’s service and professionalism for their bulky merchandise shipments.
Yaiza Canosa, founder and CEO of GOI:“We are very happy to have Moira Capital joining our project. We are fully aligned with Moira and we are sure that they will be a great support to boost GOI’s growth in this new stage. The logistics of bulky goods is a highly atomized sector and the operators lack of sufficient technology or specialization; traceability in real time, technology, are very important to optimize the service. Moreover, we are in a very special moment, logistics is the key to how we consume and we at GOI, want to be leaders in this growing market with a unique service offer”.
GOI’s team is made of 70 people who are experts in technology, finances, and logistics. The founder, Yaiza Canosa, has a long history of entrepreneurship despite her youth (27 years old) and has created several companies, including her first audio-visual technology-related start-up at the age of 16, or the Glue firm, Consulting firm specialized in technology and marketing that led to the foundation of GlueWork, manager of co-working spaces in the center of Madrid.
GOI has shown great growth potential since its foundation in 2017, with sales that year of €370,000 compared to €4.8 M in 2019. For 2020 the company expects sales of €12 M.
According to Javier Loizaga, Moira Capital Partners’ Chairman: “We firmly believe that GOI represents a unique investment opportunity in the growing and transforming bulky goods logistics sector. We want to take advantage of the enormous opportunities offered by the increase in ecommerce and the low technological development of the sector, with the most innovative operator, recognized for its differential model that provides service standards far superior to the competitors and in hands of a management team from a very first level, led by its founder and CEO”.