Mid Europa to sell equity interest in Waberer's
Mid Europa Partners, a private equity investor focused on Central and Eastern Europe, is to sell 24 per cent of the issued share capital in Waberer’s International Nyrt (Waberer’s) to Trevelin Holding Zrt (Indotek).
It also granted a call option to Indotek over Mid Europa’s remaining 47.99 per cent of the issued share capital. The transaction is subject to customary anti-trust clearance and is expected to close by the end of the first quarter 2021.
Waberer’s is a leading European provider of international full truckload (FTL) transportation, market leader in domestic freight and complex logistics services in Hungary and it has a strong position in the Hungarian non-life insurance segment.
Robert Knorr, Partner and CEO of Mid Europa, says: “I would like to welcome Indotek Group, who will help Waberer’s complete its transformation and enter a new chapter in its development.”
Barna Erdélyi, CEO of Waberer’s, says: "This transaction recognises the leading position of Waberer’s as a mission-critical provider of transportation, warehousing and insurance services in Hungary and Europe. We look forward to be supported by Indotek Group in our efforts to complete the restructuring programme and further build on the strengths of Waberer’s in the long-term. We are committed to remaining the backbone of the Hungarian supply chain and a leading European FTL transportation provider.”
The transaction was led by Bence Horváth with the support of Aleksandar Dragicevic.
Rothschild & Co acted as exclusive financial adviser to Mid Europa. White & Case with the support of Lakatos, Köves és Társai acted as legal counsel and Ernst & Young as transaction services adviser for Waberer’s.