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Deal News Transportation & Logistics What's up in Your Market Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013 www.pwc.de Deal News Transportation & Logistics What's up in your 14. June 2013 market – a focus Research Center on deals activity Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013 Wikestrom & Wikeström & Krogius, the Finnish transport company, has been sold to Krogius sold to Blue the Danish transport company Blue Water Shipping, according to Turun Water Shipping Sanomat. The report cited Henrik Mahlberg, the owner of Wikestrom, who said the deal gives further resources for the company. The target had sales of EUR 23m last year, according to Taloussanomat. No deal price was revealed. 14.06.2013 Turun Sanomat ID Logistics signs ID Logistics announced the acquisition of CEPL. The deal is expected to preliminary be completed by the end of July 2013. Based in Béville-le-Comte (Eure- agreement to et-Loir), CEPL, a French logistics provider specialist in automated acquire CEPL solutions for retail order fulfilment, offers its customers, manufacturers and retailers, detailed picking solutions. The company manages 600,000 square meters in 27 logistics sites. The Group now employs 2,200 employees in four countries (France, Spain, Germany and the Netherlands). In 2013, CEPL is expected to post revenues estimated at EUR 180m. With this acquisition, ID Logistics strengthens its offering in this business segment. The deal will also enable ID Logistics to reinforce its offer in e-commerce, with customers such as vente-privee.com. In addition, CEPL’s significant know-how in automation and retail order fulfilment will enable ID Logistics to provide innovative solutions for all the Group’s customers and also to deliver flexible and tailored logistics services to e-commerce companies. The deal will also strengthen ID Logistics’ European coverage, extending its footprint to Germany and the Netherlands and consolidating its longstanding positions in Spain. The combined entity will leverage on 168 facilities in 14 countries, representing 3.1m square meters in operation, with a workforce of 12,300 employees. The Group is expected to record pro forma revenues in 2013 above EUR 800m. 13.06.2013 Company Press Release Quehenberger Austria-based Quehenberger Logistics issued a statement regarding the Logistics acquires takeover of freight assets in Slovakia and Hungary from Luxembourg- certain Slovak and based rival Logwin: Quehenberger Logistics continues to expand Hungarian assets contract logistics The Salzburg-based company is expanding its presence from Logwin in Eastern Europe with two new sites in Hungary and Slovakia. The focus is on logistics solutions for the branches of Retail and Automotive. Quehenberger Logistics recently took over the sites Senec in Slovakia and Gyor in Hungary from Logwin Solutions. Quehenberger Logistics is a subsidiary of privately owned Austrian freight and logistics specialist Augustin Quehenberger Group. 12.06.2013 Company Press Release Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013 Wisskirchen Wisskirchen Logistik, a private German air cargo company, is in Logistik in talks to acquisition talks to further strengthen its market positioning within buy German Germany, according to founders Oliver Hellwig and Suleyman Demirci, companies - who are both managing directors. The company is in talks with a founders domestic entity active in the air cargo security space with revenue of around EUR 5m, Hellwig said, adding the objective is to acquire the majority of the company and close the deal in two months. A German company active in the sector of air cargo handling with revenue of EUR 15m is also in discussions with Wisskirchen. Several other smaller firms with revenue between EUR 5m and EUR 10m are under Wisskirchen’s radar, he noted. A joint venture agreement with an unidentified large player in the air cargo security space is also in the final stages of negotiations. Taking new investors on board is an option to finance M&A deals but the owners want to maintain a majority stake, Demirci said. The company has received approaches from private equity firms in the past but right now there are no ongoing talks, he added. An exit could be considered once the company has reached revenue of around EUR 100m. The company aims to reach revenue of EUR 30m within two years from the current EUR 15m, Hellwig said. It anticipates EUR 100m revenue in five to eight years, he pointed out. Organic growth will account on the total growth for 10% to 15% a year, the remainder will be generated by acquisitions and JVs. Broadening the product/service portfolio and entering new niche markets will be the company’s M&A focus. Buys to expand outside Germany are not planned for the next couple of years, he added. To date Wisskirchen’s growth has been financed with cash flow and credit lines, Hellwing noted. 11.06.2013 Proprietary Intelligence Oesterreichische State-owned Austrian railway group Oesterreichischen Bundesbahnen Bundesbahnen not (OBB), is not interested in the privatisation of Slovak rival ZSSK Cargo, interested in ZSSK Wirtschaftsblatt reported. The newspaper quoted an OBB statement. Cargo privatisation The article highlighted that Rail Cargo Austria (RCA), the freight division of OBB, was seen as a potential bidder for ZSSK Cargo back in 2005. 11.06.2013 Wirtschaftsblatt Logwin selling three The international logistics service provider Logwin is selling the locations to Geis locations of Logwin Solutions Deutschland GmbH in Nuremberg, Gochsheim/Schweinfurt and Ludwigsburg to the Geis Group. The corresponding agreement was signed today, but the sale is still subject to approval by the competition authorities. The focus of the three locations is land transportation with associated logistics activities. Around 425 employees had generated sales of about EUR 105m in 2012. The Geis Group, with its headquarters in the Franconian town of Bad Neustadt, was founded in 1948 and has developed into a global full-service logistics service provider with over 4,100 employees at its 87 network and logistics sites throughout Europe. The owner-operated company Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013 offers its customers a complete range of logistics services from traditional road haulage to global air and sea freight along with complex logistics solutions. 10.06.2013 Company Press Release(s) Brunswick Rail Brunswick Rail, Russia's privately owned freight railcar operating lessor, could conduct IPO could conduct an IPO in one-and-a-half to two years, RBK Daily online within two years, reported, citing CEO Alex Genin. The IPO could also take place before, seeks to increase should there be favourable market conditions. The most interesting carriage fleet via platforms for listing are London and New York, Genin told RBK. A M&A deals source close to Brunswick Rail told RBK that the company could place no less than 20% stake. The preparation and conducting the IPO of Brunswick Rail is one of Genin’s priorities, he told RBK. Before the listing, the company wants to increase its fleet to at least 35,000-40,000 railcars, from the current 24,000, Genin confirmed. It is assumed that the company will increase the number of railcars via M&A deals. One expert cited in RBK estimated that Brunswick Rail could be currently valued at some USD 1.2bn. 10.06.2013 RBK Daily Rakuten announces Rakuten announced on 6 June 2013 that it will turn the logistics plan to turn companies Webgistix, based in Michigan, and Alpha Direct Services, of Webgistix and France, into wholly owned subsidiaries. The value and timing of the Alpha Direct transactions were not disclosed in the release. Services into wholly 06.06.2013 Company Press Release (Translated) owned subsidiaries CFR Marfa 51% Grup Feroviar Roman (GFR) and Transferoviar Group, in association privatisation to be with Donau Finanz, have submitted preliminary non-binding offers for a chosen from 51% stake in CFR Marfa, the Romanian Ministry of Transportation between Grup announced on Thursday (6 June). Colorado-based OmniTRAX did not Feroviar Roman submit a preliminary non-binding offer for a 51% stake in the Romanian and Transferoviar cargo railway company. The short-listed bidders will have to submit binding bids by 19 June. The ministerial privatisation commission will open the offers on 20 June. The tender's starting price for the entire stock of shares put up for sale is RON 797,058,000 (EUR 180m). 06.06.2013 Government Press Release (translated) Chandler to Chandler owner and Managing Director Vladimir Nekhvyadovich is consider takeover willing to consider takeover offers. An offer of around EUR 7m for the offers - owner entire company would be attractive, Nekhvyadovich said in an interview with this news service. Transaction prices for this type of companies are based on market multiples of around 5x the EBIT, he added. Chandler is a German transport and logistics group. It has revenue of EUR 30m and EBIT of between EUR 1 and EUR 2m, the executive said. Nekhvyadovich noted he is currently not actively looking for buyers but would review offers. He explained that he would be ready to stay on board for a couple Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013 of years after the sale, to facilitate the transition. The task of an entrepreneur is to build the business and then sell it, he pointed out, when asked for the reason to sell the company. Chandler has been already approached by financial investors looking to acquire a stake, but the offers have been declined. The group, established in 1996, has so far grown organically, and will follow the same strategy in the future, said Irina Koenig, managing director of Chandler's headquarters in Hamburg.
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