Monday, July 24, 2017 —
WABERER’S INTERNATIONAL Nyrt. (hereinafter: Waberer’s), the European leader in full truckload (FTL) transportation, announces that it has closed the acquisition of Link sp. z o.o. (“Link”) and Link Services sp. z o.o. (“Link Services”). The final aggregate purchase price for the two companies is EUR 32.5 million, which the Company will fund from net proceeds of its public offering.
As previously disclosed, on 26 May 2017, Waberer’s concluded a preliminary agreement for the purchase of shares of Link and Link Services. By 5 July 2017, Waberer’s satisfied the two conditions in the preliminary share purchase agreement, namely (i) obtaining an unconditional approval for the completion of the transaction from the relevant Polish and German competition authorities and (ii) commencement of trading of Waberer’s shares on the Budapest Stock Exchange.
Ferenc Lajkó, CEO of Waberer’s, commented: “Link is a highly complementary business to Waberer’s, with a very similar growth-based business model, a modern fleet and extensive FTL expertise. Led by a highly qualified management team, Link provides international FTL transportation and freight forwarding services across Europe. We are confident that Link will be a valuable member of Waberer’s Group and that joining our forces will result in a more efficient and competitive operation. We continue to see great opportunities in the growing European road transportation industry and believe that our acquisition of Link will reinforce Waberer’s prime position in the market and strengthen our ability to actively lead the market’s consolidation process.”
Waberer’s International Nyrt is the largest owned vehicle operator within the European international full truck load (FTL) segment of the transportation market measured by own fleet size and the largest logistics service provider in Hungary as measured by revenue (source: Transport Intelligence Ltd.). The company provides optimum transportation services for customers throughout Europe. With its modern fleet of over 3,500 trucks and an average vehicle age of 2.6 years, Waberer’s reached close to 450 million kilometers on the roads of Europe in 2016. The company employs about 6,800 people, and its domestic logistics capacity exceeds 180,000 m2 of modern warehouse space.
LINK is a leading supplier of modern solution in the Transport sector. Almost 30 years of market experience in developing transport and logistical processes, numerous investments in dedicated teams of specialists, modern fleet and IT technologies allow LINK to deliver the highest quality of service. LINK specializes in road transport and shipment across the whole Europe, its main directions are the United Kingdom, Germany, Belgium, the Netherlands, France, the Czech Republic, and Poland. LINK company has 427 trucks and 675 trailers, employing 956 people where 717 are drivers.
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