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POLAND - Bridgepoint acquires CTL Logistics

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Bridgepoint has acquired CTL Logistics, a private rail logistics company and one of the largest private rail operators in Europe, from its founder Jaroslaw Pawluk. The financial details of the transaction were not disclosed. Debt was provided by ING and Commerzbank.

CTL Logistics provides full service, tailor-made logistics solutions through its own asset base. The company employs over 2,500 staff and had revenues of PLN 1,112m (EUR 285m) in 2006. Pawluk will remain as a significant minority shareholder and will join the company's supervisory board.

The rail freight market is a growing part of the land freight industry in Europe where annual growth rates in volume and value are predicted to exceed 4% and 5% per annum respectively for the next five years. The Polish rail freight market is the second largest in Europe due to the country’s dominant market position in coal production and its strategic position as an East-West rail corridor. CTL has a non-stop cross-border service between Poland and Germany.

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