Published: March 28, 2011
PE firm will fund road freight company’s acquisition plans.
Mid Europa Partners, a private equity firm, is to buy 49.05% of road freight transport company Waberer’s.
The firm, which focuses on investments in Central and Eastern Europe, is buying a stake in the Hungarian company from its founder and chief executive György Wáberer for an undisclosed sum.
Waberer’s is one of the largest road freight transport companies in Europe, with a fleet of 2,300 trucks. Last year it generated revenues of €331mn.
Mid Europa’s investment will enable Waberer’s to continue buying road transport companies in Hungary and its surrounding countries.
Wáberer said this transaction will improve the company’s growth prospects. “In the past decade we doubled our turnover and we hope to do so again in the future.”
Craig Butcher, head of Mid Europa’s Budapest office, added that the firm will support the company in expanding its operations in Europe’s fast growing and fragmented road freight market.