VTG acquires railcar provider Ahaus Alstätter Eisenbahn Holding AG

VTG AG becomes full-service railcar provider of all essential wagon segments; main focus of the newly acquired fleet is on combined transport

VTG Aktiengesellschaft, one of the leading wagon hire and rail logistics companies in Europe acquires the wagon hire company AAE, Ahaus Alstätter Eisenbahn Holding AG. This merger enables VTG to strengthen its position as the largest private wagon hire company in Europe, with a fleet consisting of around 80,000 wagons. The main focus of the newly acquired fleet is on combined transport wagons which in turn rounds off VTG’s wagon and service range in Europe and closes a vital gap in its product portfolio. Subject to clearance by the competent antitrust authorities, the transaction is expected to be completed in the first half of 2015.

“Acquiring AAE represents a major strategic step forward for our company”, explains Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. “The merger of two innovation leaders will lead to the establishment of the only single-source provider of all essential wagon segments for rail freight transportation throughout Europe. This will open us up to new customer groups and allow us to continue to address the market segment with the strongest growth potential. Both the shipping industry and rail companies can equally benefit from our products and services.”

AAE is a leading provider as a rental company for combined transport services. “Combined” or “intermodal” transportation refers to all forwarding and transport operations which involve the same loading units, e.g. containers, by rail combined with other modes of transport. The combined transportation market continues to grow considerably and experts forecast that demand will double by 2030. Around 30,000 AAE wagons will be added to VTG’s existing wagon fleet, which consists of more than 50,000 wagons. The average age of the AAE wagons is approximately 15 years which is significantly less than the average age of the VTG fleet, which currently stands at 23 years. AAE is active in 24 countries throughout Europe and Russia.

The acquisition is to be carried out by way of VTG shares, a cash component and a vendor loan note. The VTG shares shall be issued in the form of a capital increase. Andreas Goer subscribes for 7.4 million new shares and thereby acquires 26 percent of the increased share capital of VTG. The vendor loan note amounts to approximately EUR 230 million and the cash component is EUR 15 million. On meeting certain conditions for adjustments met, VTG will pay up to EUR 3 million of additional compensation. Mr. Goer has informed VTG that he does not intend to take over VTG.

AAE is based in Baar, Switzerland. In the group around 135 employees generated a turnover of more than EUR 200 million in 2013 and an EBITDA of almost EUR 150 million. As of December 31, 2013, the net indebtedness of the enterprise was EUR 890 million. With some 30,000 freight cars, the AAE Group is one of the largest freight railcar leasing company in Europe and market leader for freight cars in intermodal transport, which is growing at a particularly strong rate.

VTG Aktiengesellschaft is one of Europe’s leading wagon hire and rail logistics companies. Globally, the fleet consists of some 53,000 railcars, with a focus on tank cars and state-of-the-art high capacity freight cars and flat cars. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports. With the combination of its three interlinked divisions Railcar, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight.

www.vtg.com

Quelle: LogEastics
Portal: www.logistik-express.com