The Budamar Logistics group signed a contract for the purchase of a 50-per cent share in Slovakian wagon manufacturer Tatravagónka Poprad. The deal still has to be approved by the Anti-trust Office. With almost 2,000 employees and EUR 200 million turnover, Tatravagonka is one of the biggest producers of railway carriages in Europe, exporting to both eastern and western Europe.
Budamar will become the strategic partner of Tatravagónka’s current owner – the Optifin Invest group, which has controlled the company since 2006. Optifin Invest has been searching for a strategic investor for several years and during the past year, more intensely so.
Details on the price of the transaction were not disclosed. According to earlier speculations, Budamar may have paid about EUR 100 million for the 50-per cent share, which is five times the company’s EBITDA.
Last year, Budamar bought a minority share in Železničné Opravovne a Strojárne (ŽOS) Vrútky, the third biggest railway repair company in the country.
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