Gimv and Cube to acquire VTB

Gimv is set to acquire a 49% stake in the business, with Cube securing the remaining 51%.

The company plans on reinforcing its position in Belgium's transport market through an acquisitive and organic growth strategy.

The Cube Infrastructure Fund is a €1.08bn vehicle managed by Natixis Environnement & Infrastructures. The fund typically invests €50-150m in mid-market infrastructure assets.

VTB's current parent company, Transdev, is headquartered in Paris and currently employs more than 95,000 staff. The group operates across 21 countries and recorded revenues of €7.9bn in 2012.

Company
Antwerp-headquartered VTB is a private bus operator with a current fleet of around 680 buses. The company operates daily urban, interurban and regional bus lines under the public transport authorities in Belgium.

VTB also runs bus transport for schools, workers and travel agencies. The company employs close to 1,100 staff and generated turnover of €94m in 2012.

People
Luc Jullet is managing director at VTB. Thomas Dewever is a principal at Gimv, while Jérôme Jeauffroy is a managing partner at the Cube Infrastructure Fund.

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