TA Associates takes minority stake in Eurowag

The GP said it was attracted to the company by solid organic growth and good opportunities to sustain it in the future. TA cited research projecting that the European fuel card market, which Eurowag serves, will be worth in excess of €110bn by 2019.

TA managing directors Ajit Nedungadi and J Morgan Siegler will join Eurowag's board of directors as part of the deal.

Eurowag is TA's second foray into the Czech Republic since 2009, when it made a minority investment in cybersecurity company AVG.

Company
Eurowag is a provider of payments services for the freight and passenger transport industries. The company provides fuel payment cards for logistics services and operates across Europe and Turkey.

Headquartered in Prague, Eurowag posted revenues of more than €1bn in 2015.

People
TA Associates – Ajit Nedungadi (managing director); J Morgan Siegler (managing director).
WAG Payment Solutions – Martin Vohánka (founder, CEO).

Advisers
Equity – Travers Smith (Legal); Kinstellar (Legal).
Company – Clifford Chance (Legal); Deutsche Bank (Corporate finance); EY (Financial due diligence).

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• Topics
• Expansion
• CEE
• Support services
• Czech Republic
• TA Associates
• Minority investing
• Travers Smith
• Clifford Chance
• Deutsche Bank
• EY (Ernst & Young)