Urgent Cargus group is the second leading actor on a market put at about EUR400 million. The company’s revenue stood at EUR70 million in 2016, flat on 2015.
Urgent Cargus developed in the past almost five years when Abris Capital made its first acquisition. It was involved in six takeovers on this market.
Information about Abris Capital’s intention to sell Urgent Cargus first surfaced at the beginning of this year. Cezar Scarlat, the Romanian executive who runs the operations of Abris Capital denied it. He did not return ZF’s call for comment on a new sale attempt.
Abris Capital negotiated the sale with buyout investor Mid Europa Partners, but the talks fell through so Urgent Cargus is up for sale again, ZF has found. This time Abris hired Rothschild, which opened a local office, to handle the sale. The deal should amount to more than EUR150 million.
(English version by Loredana Fratila-Cristescu)