Elbrus Capital, Russian venture capital firm, has bought out Svarog Capital Advisors‘ stake in Russian express delivery company SPSR-Express. Svarog’s investment vehicle in the holding was the Russian Retail Growth Fund, which has exited partially from the delivery company as a stakeholder. Elbrus managing partner Dmitri Krukov led the transaction for the buyer, while Svarog was represented by Oleg Tsarov. Founder and CEO Vladimir Solodkin is heading up SPSR-Express – the Russian leader in domestic private mail and cargo services. The Moscow-based company services over 6,000 cities across the country from its 200 branches; it also runs more than 1,000 delivery vehicles for its operations. Service portfolio includes KartaNaDom, a system for delivering financial instruments, in the form of plastic cards, for the banking sector in Russia, as well as PickPoint, a pick-up and delivery service that operates at various post offices designated for the purpose. Set up in 2001, SPSR-Express is the leader in express transportation, and provides services such as logistics, transportation and storage. It currently employs 4,000 FTEs (full-time employees), and engages the most advanced in international technology for its operations. It operates as a registered representative of the Register of Customs Brokers and carries a postal license for its activities.
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