Hansabuss acquired Latvian bus company Ludzas ATU
Hansabuss AS subsidiary in Latvia, Tukuma Auto SIA acquired 100 per cent holding in Latvian bus company Ludzas ATU SIA, which provides bus transport services in Ludza and area nearby. 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 per cent.
According to member of the management board of Hansabuss AS Neeme Tammis, with the transaction the company is significantly strengthening its position in the Baltic public bus transport market. “Ludzas ATU transaction is the fourth acquisition by Hansabuss in the Baltics during last 18 months and the third acquisition in Latvia. It is a next step in preparation for the opening of the Latvian public bus transport markets in 2020. We plan to continue the expansion in the public bus transport market and charter bus market in Baltics, depending on the market situation,” said Tammis.
One of the former owners and member of the management board of Ludzas ATU Guntars Losevičsexpressed delight over the fact that the company has been acquired and will be managed by Hansabuss. “Hansabuss is a strong transport company that has long-term experience in the Baltic market and is known for high quality of services. I believe Hansabuss shall contribute positively to the further development of the company and that the passengers of urban and county lines and the company’s employees are the main winners in this transaction,” said Losevičs.
Former owner of Ludzas ATU, Guntars Losevičswill remain actively connected with the company and will continue as the member of the management board. The head of the Latvian business unit of Hansabuss, Sergei Vahnitski will continue in his position, being responsible for all Hansabuss subsidiaries in Latvia.
Ludzas ATU SIA mainly services the urban and county lines of Ludza and provides charter transport services. The 2017 consolidated turnover forecast for the company is about 1 million euros. There are 30 people currently working in the company and the fleet includes 20 vehicles, of which 16 buses.
As the result of transaction, the annual turnover of the Latvian unit of Hansabuss will increase to about 8 million euros, 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 amount to more than 10 per cent.
The buyer was advised by investment bank Michel Capital and law firm Fort Latvia. The transaction value is confidential pursuant to the parties’ agreement.
Hansabuss is a group of companies that provides bus services in the Baltic States and elsewhere in Europe. The Hansabuss group includes the parent company Hansabuss AS and subsidiaries Samat AS, Hansa Bussiliinid AS, Hansabuss Latvia SIA, Tukuma Auto SIA and the subsidiary Tutransauto SIA, AIPS SIA, Virazas SIA, Bauskas AO SIA and Ludzas ATU SIA.
Hansabuss itself is part of the Hansa Group (NTH Holding OÜ), 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 45 million euros per annum and the group’s companies employ more than 700 people in the Baltics.