GPs sell public transport operator Hansea to DWS

Cube and Gimv acquired Hansea in 2014; under the GPs' ownership, the business completed four acquisitions of smaller, family-owned operators, one in Flanders and three in Wallonia.

Hansea was the last asset remaining in the Gimv-XL fund, which was launched in 2009.

Cube, a Luxembourgian management company focusing on investments in the European infrastructure space, backed Hansea via Cube Infrastructure Fund I, which had its final close in September 2010 on €1.08bn.

Company
With a fleet of 811 buses and around 1,200 employees, Hansea is the largest private bus company in Flanders, according to a statement by vendors.

The company is responsible for daily urban and regional connections on behalf of the public transport companies, De Lijn and TEC. Hansea is also active in school and personnel transport and bus charter services. The business is based in Antwerpen.

People
Hansea – Luc Jullet (CEO).
DWS – Hamish Mackenzie (global head of infrastructure).
Cube Infrastructure Managers – Jérôme Jeauffroy (managing partner).
Gimv – Ruben Monballieu (principal).

Advisers
Vendor – DC Advisory (corporate finance); Linklaters (legal).
Equity – Macquarie (corporate finance); Stibbe (legal).

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