Cube partners with the management of Mekka Traffic AB / Bergkvarabuss AB and acquires 60% of the company
Cube Infrastructure Fund II (“Cube”) entered into a partnership with the management of Mekka Traffic AB (“Mekka Traffic”) and purchased 60% of the shares in the company. The founder and Chief Executive Officer of Mekka Traffic, Mr. Göran Mellström, will retain a 40% ownership interest in the company and will continue to lead the group.
Mekka Traffic was founded in 1975 in Kalmar, Sweden and has successfully developed, through organic growth and complementary add-on acquisitions, to become the fifth largest bus operator in the country (and the largest family-owned). It employs ca. 1,900 people and operates a fleet of ca. 1250 buses, of which ca. 260 biogas and hybrid electric buses, which places the company at the forefront of clean mobility.
Jérôme Jeauffroy, Managing Partner at Cube Infrastructure Managers, commented: “Mr. Mellström has developed a company with an outstanding track record of serving passengers and public transport authorities and Cube is looking forward to supporting Mekka Traffic’s further development”.
Göran Mellström, CEO at Mekka Traffic, added: “With ever increasing focus from our clients on electric mobility and technological developments, the industry is entering an exciting phase. I am confident that the partnership formed with Cube will ideally position the company to seize the opportunities arising in this context.”
EY served as financial and tax due diligence advisor, and Vinge as legal advisor to Cube. Glimstedts Advokatbyrå served as legal advisor to Mekka Traffic.
About Cube
Cube is a leading European infrastructure fund, focusing on investments in regulated, brownfield infrastructure assets, addressing the essential infrastructure needs of the local public authorities and populations, primarily within the European Union, with a “Buy- &-Grow” strategy. Cube focuses on mainly three strategic markets: Public Transport, Energy Supply (notably district heating and energy efficiency) and Fiber Communication, levering on the experience of investing and managing its first infrastructure fund Cube Infrastructure Fund.
Contacts for further information:
Mekka Traffic AB
Göran Mellströ
CEO & Founder
goran.mellstrom@bergkvarabuss.se