BLP advises Mid Europa Partners on major European transport acquisition
Law firm Berwin Leighton Paisner (BLP) has recently advised long standing client Mid Europa Partners (Mid Europa), on the acquisition of a 49.05% stake in leading Central and Eastern Europe (CEE) road freight transport company Waberer’s Holding Zrt. Announced yesterday (24 March 2011), this is the fourth deal BLP has advised Mid Europa on since late 2010.
Waberer’s is the largest road transport company in Hungary and one of the largest road freight transport companies in Europe, operating a fleet of 2,300 trucks and generating revenues of €331ml in 2010.
Mid Europa’s equity investment will significantly strengthen the capital base of Waberer’s and enable them to take advantage of funding in order to continue to acquire road transportation companies in Hungary and the surrounding countries. Last year BLP advised on the acquisition of a strategic stake in Energy 21, the largest Czech-based independent developer and operator of solar power in CEE; towards the end of 2010, BLP also advised on the sale of global cement supplier Calucem’s operating assets to private equity firm, ARGUS Capital Partners.
BLP finance partner, Robert Gross, said:“We are delighted to have the opportunity to once again work with Mid Europa on this significant acquisition. The development of European transport services has been identified as a key area helping future recovery and growth across Europe.”
The BLP team was led by partner Robert Gross and assisted by senior associate Kiran Arora.
The transaction is subject to customary closing conditions, including competition clearance.
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