KKR sells UN Ro-Ro to Actera Partners

The duo is reported to have paid around €700m for the company - €50m more than the business's net debt.

UN RO-Ro was KKR's sole portfolio company in Turkey. Goldman Sachs in understood to have been mandated to find a buyer for the business last year. Danish ferry company DFDS Group is reported to have withdrawn from the auction process.

Esas is a family office established by members of the Sabanci family. The investor is the owner of local airline Pegasus Hava Tasimaciligi.

Actera was launched by Isak Antika, a former banker at Merrill Lynch. LPs in the GP's buyout fund include pension funds and sovereign wealth funds in North America, Europe and the Middle East.

Previous funding
In 2007, KKR acquired a 97.6% stake in UN Ro-Ro via the newco Trieste Bidco Denizcilik ve Tasimacilik. The transaction valued the business at €910m. A financing package was arranged by Turkish banks Garanti Bankasi and Turkiye Is Bankasi, according to unquote" data.

Company
UN Ro-Ro is an intermodal transportation company for trucked cargo. The business has developed short- and long-sea crossings, including long-distance routes between Turkey, northern Italy and southern France, enabling truck drivers to avoid underdeveloped roads in the Balkan region.  

The business was established in 1994 and is headquartered in Istanbul. 

 

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• Topics
• CEE
• Industrials
• Exits
• Buyouts
• Turkey
• KKR
• Secondary buyout