Mid Europa to float Waberer's

CEE-focused buyout investor Mid Europa acquired the company in 2011, initially taking a 49.5% stake, which it later increased to 97.1%.

The company's implied market cap following the float will be between €294-350m. The targeted minimum offering size is €190m, of which Waberer's will receive around €45m. Around €32m of the capital raised will be used to purchase Link, a Polish logistics company.

The offering includes a private placement to institutional investors and a public offering of up to 1,379,718 existing shares, up to 297,175 overallotment shares and up to 617,647 new shares.

Citigroup and Berenberg are acting as joint global coordinators for the offering and are also joint bookrunners along with Erste Group and Renaissance Capital.

The company's activities cover long-haul international transport of standard pallet goods, domestic transport, storage and distribution of dry and refrigerated goods, and international brokerage.

Waberer's has a fleet of 3,550 truck-trailers and its domestic logistics warehouse capacity exceeds 160,000 square meters. It was established in 1948 and is headquartered in Budapest. In 2016, the firm generated €572.2m in revenues and €69.2m in EBITDA. It employs 6,500 staff.

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• Topics
• Exits
• Industrials
• CEE
• Hungary
• Mid Europa Partners