Hansabuss acquired Latvian bus company AIPS

Press release

03.07.2017

 

Hansabuss acquired Latvian bus company AIPS

 

Hansabuss AS acquired 100 per cent holding in Latvian company AIPS SIA, which in addition to bus transport services also provides maintenance and repair services for buses and operates Bauska bus station through companies belonging to the group. As a result of the transaction, the market share of Hansabuss in Latvia in the public bus transport and charter transport segments open to competition will amount to more than 10 per cent.

 

According to member of the management board of Hansabuss AS Neeme Tammis, with the transaction the company is significantly strengthening its position in the Baltic public bus transport market. “It is a next step in preparation for the opening of the Latvian public bus transport markets in 2020. AIPS transaction is the third acquisition by Hansabuss in the Baltics during last 12 months and the second acquisition in Latvia. We plan to continue the expansion in the public bus transport market and charter bus market in Latvia, depending on the prevailing market conditions,” said Tammis.

 

One of the former majority owners and member of the management board of AIPS Uldis Kolužs, expressed delight over the fact that the company has been acquired and will be managed by Hansabuss. “Hansabuss is a strong transport company with long-term experience in the Baltic market, it is known for high quality of services, environmental awareness and strong technological platform. I believe Hansabuss shall contribute positively to the further development of the company and that the passengers are the main winners in this transaction,” said Kolužs.

 

Former owners of AIPS, Uldis Kolužs and Aivars Pundurs, will remain actively involved with the company for the next 12 months. The head of the Latvian business unit of Hansabuss, Sergei Vahnitski will continue in his position, his responsibility shall be extended to all acquired companies.

 

AIPS SIA mainly services the urban and county lines of Bauska, local school lines and national long-distance lines. Virazas SIA, the company belonging to the group, provides maintenance and repair services for buses and Bauskas AO SIA manages Bauska bus station. The 2017 consolidated turnover forecast for the group of companies is over 2 million euros. There are more than 100 people currently working in the companies and the fleet includes 35 vehicles, of which 28 buses.

 

As the result of transaction, the annual turnover of the Latvian unit of Hansabuss will increase to about 7 million euros, the number of employees to over 235 people and the fleet to over 120 vehicles. The market share of Hansabuss in Latvia in the public bus transport and charter transport segments open to competition will amount to more than 10 per cent.

 

The buyer was advised by investment bank Michel Capital and law firm Fort Latvia. The transaction value is confidential pursuant to the parties’ agreement.

 

Hansabuss is a group of companies that provides bus services in the Baltic States and elsewhere in Europe. The Hansabuss group includes the parent company Hansabuss AS and subsidiaries Hansa Bussiliinid AS, Hansabuss Latvia SIA, Tukuma Auto SIA and the subsidiary Tutransauto SIA, AIPS SIA, Virazas SIA and Bauskas AO SIA.

 

Hansabuss itself is part of the Hansa Group (NTH Holding OÜ), which in addition to the companies offering bus transport services, also includes car rental companies Hansarent OÜ and Baltic Mobility OÜ (Europcar Estonia, Latvia and Lithuania and Interrent Estonia, Latvia and Lithuania) and AS Iv Pluss, which operates in the sale and maintenance of Iveco and Irisbus vehicles. The consolidated total revenues of Hansa Group exceeds 40 million euros per annum and the group’s companies employ more than 600 people in the Baltics.

 

More information:

Neeme Tammis

Hansa Group member of the management board

Tel: +372 50 34 828

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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