12/2019Minority

Oaktree Capital Management invests in Fortidia

ITALY Transport & Logistics / Logistics / Warehousing / 3PL REV €500M–1bn

Context

Oaktree Capital Management made a strategic minority investment in MBE Worldwide, a global provider of logistics and business services. The transaction was structured as a significant capital increase, with the investment proceeds intended to fuel the company's next phase of growth. The founding Fiorelli family, who will continue to lead the company, retained a majority ownership stake post-transaction. The partnership with Oaktree provides MBE with significant capital and a strategic partner with deep experience to support its ambitious expansion plans. The primary rationale for the deal is to accelerate MBE's international presence and enhance its competitive position, pursuing growth both organically and through further strategic acquisitions. Oaktree was attracted to MBE's impressive track record, strong market position within promising and growing industries, and experienced management team. For MBE, which had been actively seeking a private equity partner, the transaction was a key step in securing a valued investor to help achieve its long-term goals of increasing financial strength and global reach in the evolving shipping, fulfillment, and marketing solutions markets for SMEs.

By taking control of Fortidia, Oaktree Capital Management continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Fitness First in 2012.

Fortidia, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in Business Services market trends

Target

Fortidia (ex MBE Worldwide S.p.A.), is a global commerce platform headquartered in Milan, Italy. The company specializes in supporting micro, small, and medium-sized enterprises (MSMEs) and consumers by offering a comprehensive suite of services that includes shipping, fulfillment, logistics, marketing, and print solutions. Its operations are structured through a multi-brand platform, which features well-known names such as Mail Boxes Etc. (for operations outside the U.S. and Canada), World Options, PACK & SEND, PostNet, and AlphaGraphics, among others. The company leverages both direct and franchised channels to serve its customers across online and offline environments. In 2024, Fortidia's extensive global network comprised over 3,200 Business Solutions Centers located in 57 countries, staffed by more than 14,000 associates. During that year, the platform catered to approximately 850,000 business customers worldwide, demonstrating its significant scale and reach within the global commerce and logistics sectors. The company's model is designed to address the diverse needs of its client base in a highly fragmented international market.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2019

2018

Other operations with Fortidia

Other operations with Fortidia
Date	Acquirer	Target	Country	Sector
03/2026	BC PARTNERS	FORTIDIA	ITALY	Warehousing / 3PL

Other operations with Oaktree Capital Management

Other operations with Oaktree Capital Management
Date	Acquirer	Target	Country	Sector
01/2021	OAKTREE CAPITAL MANAGEMENT	COL GROUP	ITALY	Electrical Equipment
03/2012	OAKTREE CAPITAL MANAGEMENT	FITNESS FIRST	UNITED KINGDOM	Hospitality
01/2010	OAKTREE CAPITAL MANAGEMENT	VERESCENCE	FRANCE	Glass Packaging

Similar deals in Transport & Logistics

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09/2019	MACSF	STAR SERVICE	FRANCE	Last Mile Delivery
12/2018	ARKEA CAPITAL / UNEXO / SOCADIF	GROUPE MALHERBE	FRANCE	Road Freight
09/2018	OUEST CROISSANCE	LES VEDETTES DE PARIS	FRANCE	Marine Passenger
05/2018	PAI PARTNERS / BARING PRIVATE EQUITY	WORLD FREIGHT COMPANY	FRANCE	Freight Forwarding
02/2017	INFRACAPITAL / INFRAVIA CAPITAL	GIP GRUPPO INVESTIMENTI PORTUALI	ITALY	Infrastructure & Ground Services
12/2016	ALASKA AIR GROUP	VIRGIN AMERICA	UNITED STATES	Airlines
04/2015	XPO	NORBERT DENTRESSANGLE	FRANCE	Road Freight
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REFERENCES

Revenue range: REV €500M–1bn

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Fortidia by Oaktree Capital Management are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: fortidia

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Fortidia, an Italian company specialised in Logistics, by Oaktree Capital Management in 2019. Ownership has since evolved, leading to a subsequent transaction with BC Partners in March 2026 (see the dedicated deal page for details).

What was Fortidia’s revenue at the time of the deal?

At the time of the transaction, Fortidia’s annual revenue was estimated within the €500M–1bn range (FY 2019). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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