Munich-based private equity firm Afinum has bought a stake in Swiss cargo carrier Wallenborn Transport for an undisclosed sum. Ludwig Bertsch, the former chief executive officer of airline carrier Swisscargo, has also invested in the firm.
Although the terms of the deal have not been disclosed, the deal has been valued at between €25 million and €50 million, according to UK media reports.
The deal was led by Philipp Schülin, a managing director at Afinum. Investors Afinum and Bertsch intend to aid the expansion of Wallenborn throughout Europe, by using it as a platform for add-on investment, the firms said in a statement.
Wallenborn is headquartered in Luxemburg and has four hundred employees, operating three hundred cargo vehicles, between offices in Amsterdam, Bucharest, Frankfurt and Paris. It services international forwarders, airlines, logistic providers and local industry.
Afinum was founded in 2000 by Thomas Bühler and Gernot Eisinger targeting investment in the European mid-market.