Fortidia Acquisition, Valuation, Funding & Investors

Fortidia was acquired by BC Partners for $1.7B in December 2025, a 1.1x multiple on $1.6B of revenue.

Fortidia acquisition price

$1.7B

Acquired by BC Partners · Dec 2025

Fortidia revenue at acquisition

$1.6B

Last twelve months · Dec 2025

Fortidia revenue multiple at acquisition

1.1x

EV/Revenue · Dec 2025

Cumulative funding Fortidia raised

$132M

across 1 funding round

Fortidia Overview

About Fortidia

Fortidia is a Milan-based group that runs a global network of business service centres offering shipping, logistics, e-commerce fulfilment, printing and marketing services to small and medium-sized enterprises. It traces its roots to Mail Boxes Etc., founded in San Diego in 1980, and was established in 2009 as MBE Worldwide to acquire Mail Boxes Etc. outside the US and Canada from UPS; the group rebranded as Fortidia in 2024. Its brands include Mail Boxes Etc., World Options, PACK & SEND, PostNet, AlphaGraphics, Kwik Kopy Australia, Multicopy, Print Speak, ParcelValue, GEL Proximity and Wing. The network combines independently owned partner locations operating under its brands with directly operated centres, and counts more than 3,200 business solutions centres in 57 countries, about 850,000 SME customers and more than 14,000 people. It generated US$1.65 billion (€1.45 billion) of system-wide gross revenue in 2024. Oaktree Capital Management took a significant minority stake in 2020, and BC Partners acquired a majority stake in 2026, the same year PrestaShop and Spedingo.com left the group and it acquired Wing in France.


Founded

2009

HQ

ItalyMilan

Status

Acquired

Customer focus

B2B

Revenue model

Licensing, Services

Revenue

$1.6B (Dec 2025)

Valuation

$330M (Feb 2020)

Fortidia Acquisition

Fortidia was acquired by BC Partners for $1.7B on 16 December 2025.

The acquisition price implies a 1.1x revenue multiple on $1.6B of revenue.

Before the acquisition Fortidia had raised $132M across 1 funding round.

Fortidia, a leading global platform providing shipping, fulfilment, print, and marketing services through direct and franchised networks, entered a strategic partnership with BC Partners, a major international investment firm focused on defensive growth opportunities in diversified services. BC Partners acquired a majority stake from the founding Fiorelli family and funds managed by Oaktree Capital Management, with Chairman and CEO Paolo Fiorelli retaining a significant stake and continuing in his role. The deal, valued at approximately €800 million according to one report, closed in March 2026 after announcement in late 2025, marking the first investment for BC Partners Fund XII and the firm's fifth in 2025 following Biogaran, IGS GeboJagema, PetLabCo., and GES. The strategic rationale centers on accelerating Fortidia's global expansion, enhancing client offerings, broadening its international footprint, and pursuing M&A in the highly fragmented route-based services market, leveraging BC Partners' sector expertise, operational capabilities, regional know-how in Italy, and track record of transforming similar platforms like GFL, GardaWorld, and GES. BC Partners Partners Paolo Notarnicola and Marco Castelli emphasized Fortidia's resilient business model, strong franchise network, and compelling growth trajectory as ideal for defensive growth. Oaktree's Mario Adario highlighted strong value realization for its investors, while Fiorelli praised BC Partners' long-term ownership approach to scale the business. The transaction, advised by Kirkland & Ellis for BC Partners, was subject to regulatory approvals and customary closing conditions. It builds on BC Partners' extensive Italian track record, with over €3.3 billion deployed across 17 transactions since 1986, positioning the partnership to amplify Fortidia's network effects and profitability in a competitive logistics landscape.

Fortidia acquisition details
AcquirerDateTypePriceEV/Revenue
  • BC Partners
16 Dec 2025PE buyout$1.7B1.1x

Fortidia Valuation

Fortidia is currently valued at $330M, based on its undisclosed-stage round in February 2020. Read the announcement ↗

The $132M round included Oaktree Capital Management.

Fortidia valuation by funding round

Fortidia valuation by funding round
DateStageValuation
Feb 2020Undisclosed stage$330M

Fortidia Funding History

Fortidia has raised a total of $132M across 1 funding round.

Fortidia funding rounds

Fortidia funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2020Undisclosed stageOaktree Capital Management$132M$330MMBE Worldwide, the Milan-based franchisor of Mail Boxes Etc., and funds managed by Oaktree Capital Management announced on 19 February 2020 a definitive agreement under which Oaktree would acquire up to a 40% ownership interest in MBE through a phased EUR 120 million reserved capital increase. The Fiorelli family, MBE's existing shareholders, kept majority ownership. Chairman and chief executive Paolo Fiorelli said the company sought an investment partner to support ambitious plans to grow its competitive position, international presence and financial strength, and Oaktree managing director Mario Adario said the firm saw an opportunity to support the business in its next stage. Jefferies, Sidley Austin and Chiomenti advised MBE; Shearman & Sterling, Ernst & Young and Boston Consulting Group advised Oaktree. The investment was made by Oaktree's European Principal strategy. MBE Worldwide, since renamed Fortidia, provides shipping, fulfilment, print and marketing services to small and medium-sized businesses and consumers, mainly through independently owned franchised stores that pay fees and royalties. At the time of the deal it operated the Mail Boxes Etc., AlphaGraphics and PostNet brands through more than 2,600 locations in 52 countries with over 10,000 associates, and reported system-wide sales of EUR 918 million for 2019. In December 2025 BC Partners agreed to buy a majority stake from the Fiorelli family and Oaktree funds.

Who has invested in Fortidia?

1 investor has backed Fortidia across its funding rounds, including Oaktree Capital Management.


Fortidia Investors

Investors in Fortidia by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Fortidia

Fortidia has acquired 3 companies to date.

Last acquisition by Fortidia was on March 8th 2026. Fortidia acquired Mail Boxes Etc for undisclosed valuation.


Latest Acquisitions by Fortidia

Mail Boxes Etc
PACK & SEND New Zealand
Spedingo.com
Description
Mail Boxes Etc offers logistics, shipping, micrologistics, printing, design, and business support services.
-
Spedingo.com is a Milan-based Italian marketplace launched in 2012 that connects shippers with transport companies utilizing spare vehicle capacity for eco-friendly deliveries. Users save up to 70% on shipping large items like boxes, household goods, cars, bikes, and pallets by matching with partially empty lorries, where over 25% run empty and 50% underfull. The platform reduces road vehicles and CO2 emissions while boosting carrier profits through optimized loads across Italy and Europe.
HQ CountryCroatiaNew ZealandItaly
HQ City
Zagreb
-
Milan
Deal Date8 Mar 202622 May 202317 Oct 2017
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Fortidia Competitors

Fortidia competitors include listed companies like Xinhua Winshare and Xiamen Xiangyu Co, and private ones like Redo, Flexe, ShipBob and Front.

Public and private companies comparable to Fortidia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RedoUnited StatesSalt Lake City, UTPrivate--$1.3B-
Xinhua WinshareChinaChinaPublicly listed$1.7B$250M$2.5B0.8x
FlexeUnited StatesSeattle, WAPrivate--$1B-
ShipBobUnited StatesUnited StatesPrivate--$1B-
FrontUnited StatesSan Francisco, CAPrivate$62M-$1.7B27.4x
Xiamen Xiangyu CoChinaChinaPublicly listed$62B$526M$2.6B0.1x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
HAZAMA ANDO$2.8B$299M0.5x0.5x4.9x6.0x
Anhui Xinhua Media$1.2B$136M0.2x0.2x1.6x-
Werner Enterprises$3B$299M0.9x0.7x8.6x6.8x
Badger Infrastructure$832M$184M2.6x2.2x11.7x9.1x
Shadowfax$446M$25M3.8x3.0x69.1x50.7x
Alexandria Containers and Goods$155M$99M11.1x9.8x17.4x13.4x
STEF$5.7B$495M0.6x0.6x6.9x5.9x
Shreeji Shipping Global$74M$24M20.9x-65.6x-

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Common questions about Fortidia

When was Fortidia founded?Fortidia was founded in 2009.
Where is Fortidia headquartered?Fortidia is headquartered in Milan, Italy.
Is Fortidia publicly listed?No, Fortidia was acquired by BC Partners in December 2025.
Who acquired Fortidia?Fortidia was acquired by BC Partners in December 2025.
How much was Fortidia acquired for?Fortidia was acquired for $1.7B in December 2025, a 1.1x revenue multiple.
What is Fortidia's valuation?Fortidia was last valued at $330M in its undisclosed-stage round in February 2020.
How much funding has Fortidia raised?Fortidia has raised $132M across 1 funding round.
What was Fortidia's last funding round?Fortidia's last funding round was a $132M undisclosed-stage round in February 2020.
Who are Fortidia's investors?Fortidia's investors include Oaktree Capital Management.
Which companies are comparable to Fortidia?Companies comparable to Fortidia include Redo, Xinhua Winshare, Flexe, ShipBob, Front and Xiamen Xiangyu Co.
How many companies has Fortidia acquired?Fortidia has acquired 3 companies, including Mail Boxes Etc, PACK & SEND New Zealand and Spedingo.com.

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