Hansabuss expands business in Estonia
AS Hansabuss acquired 74 per cent majority holding in the Estonian bus transport company Samat AS, which provides passenger transport services on domestic public and commercial routes as well as charter services.
According to Neeme Tammis, member of the management board of Hansa Group, with this transaction the company is strengthening its position in the Estonian bus transport market. “Samat is a bus company that has been operating for over 25 years and has managed to secure a solid and stable position in the market. Hansabuss sees this as an opportunity to contribute to Samat’s further development. The economies of scale and efficiency associated with the size of the enterprise are the prerequisites for providing passengers with transport solutions at attractive and competitive prices in the long term while continuously investing in employees and the bus fleet. We also intend to expand in Estonia and in the Baltics as a whole should such opportunities arise,” Tammis said.
Samat’s former majority owner and member of the management board Mart Prikk will continue in Samat’s supervisory board and will remain actively involved in the business. “I believe that passengers will be the ones to particularly benefit from this transaction. Hansabuss also has extensive experience in passenger transport, and we will be able to further improve the quality of Samat’s services together,” Prikk said.
Samat’s new management board includes Karel Prikk, who has previously taken part in the management of the company’s daily operation, and Kalmar Meidla, manager of the department of transport and logistics for Estonia at Hansabuss.
Samat AS primarily operates various commercial, county and rural municipality routes in Harju County and provides charter services. Samat’s turnover for 2016 has been forecast to reach approximately 3 million euros. The company employs over 80 people. Samat’s bus fleet comprises 51 buses, including 35 large buses and 16 minibuses. The transaction will result in the annual turnover of the Hansabuss group exceeding 20 million euros, its staff numbering over 500 people and its fleet accumulating over 320 vehicles.
For the purposes of the transaction, the buyer was advised by the investment bank Michel Capital and the law firm Fort, and the seller was advised by the law firm Sorainen. Under the agreement of the parties, the transaction value is confidential.
The Hansabuss group comprises the parent company Hansabuss AS and its subsidiaries Hansa Bussiliinid AS, Samat AS, Hansabuss Latvia SIA, Tukuma Auto SIA and Tutransauto SIA. Hansabuss itself is a part of the Hansa Group (NTH Holding OÜ), which also includes car rental companies Hansarent OÜ and Baltic Mobility OÜ (Europcar Estonia, Latvia and Lithuania as well as Interrent Estonia, Latvia and Lithuania) and AS Iv Pluss, specialising in the sale and maintenance of Iveco and Iveco Bus vehicles. The consolidated total revenue of the Hansa Group exceeds 35 million euros per year, and the group’s companies provide over 600 jobs in the Baltics.
Member of the management board of Hansa Group
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