STOCKHOLM, December 15, 2017 – LionCliff Capital, the Nordic investment banking firm, is delighted to have advised Hansabuss Group in the acquisition of Ludzas ATU SIA.
Hansabuss Group acquired 100% shareholding in Latvian bus company Ludzas ATU SIA, which provides bus transport services in Ludza municipality. As a result of the transaction, the market share of Hansabuss in Latvia in the public bus transport and charter transport segments open to competition will amount to more than 10%.
Hansabuss Group is significantly strengthening its position in the Baltic public bus transport market with this transaction. Ludzas ATU transaction is the fourth acquisition by Hansabuss in the Baltics during last 18 months and the third serial acquisition in Latvia. It is a next step in preparation for the opening of the Latvian public bus transport markets in 2020, and Hansabuss plans to continue the expansion in the public bus transport market and charter bus market in Baltics, depending on the prevailing market situation.
As the result of transaction, the annual revenue of the Latvian unit of Hansabuss will increase to above EUR 8 mln, the number of employees to over 265 people and the fleet to over 140 vehicles. The market share of Hansabuss in Latvia in the public bus transport and charter transport segments open to competition will now amount to more than 10%.
Hansabuss is part of Hansa Group, which in addition to the companies offering bus transport services, also includes car rental companies Hansarent OÜ and Baltic Mobility OÜ (Europcar Estonia, Latvia and Lithuania and Interrent Estonia, Latvia and Lithuania) and AS Iv Pluss, which operates in the sale and maintenance of Iveco and Iveco Bus vehicles. The consolidated total revenues of Hansa Group are approximately EUR 45 mln per year and the group’s companies employ more than 700 people in the Baltics.
Hansa Group was advised by LionCliff Capital and law firm Fort Latvia.
LionCliff Capital is a Nordic investment banking firm that provides advice and services to help clients with mergers & acquisitions (M&A), financing and other transactions. LionCliff Capital provides financial services to diversified client base that includes large corporations and emerging companies, government agencies, institutional investors and individuals. LionCliff Capital acts for clients throughout the Nordics and Baltics from its hubs in Stockholm, Tallinn, Riga and Vilnius.
Further information:
Mihkel Piirsoo
Co-Founder and Partner
Tel: +46 76 274 5987
E-mail: mihkel.piirsoo@lioncliff.com
