The capital injection will allow the company to take out new loans that it will use to buy more peers in Hungary and neighboring countries, Mid Europa Partners said.
As a result, turnover could double in six years, just as it has in the previous six, Waberer’s said.
Mid Europa Partners will acquire its stake from Waberer’s founder and CEO György Wáberer. Wáberer will continue to own the balance of the shares with an option to increase his ownership to the same level as Mid Europa.
The transaction is subject to competition clearance.
Waberer’s consolidated revenue came to €331 million in 2010, Mid Europa Partners said. The company has a fleet of 2,300 lorries.
Public records show the company had a HUF 1.8 billion loss on revenue of HUF 18 billion in 2009.
Mid Europa Partners manages close to €3.2 billion in funds.
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