CBRE Caledon Capital Management has bought a regional and school bus operator in southern Sweden on behalf of a fund it sponsors and a separately managed account.
CBRE Caledon has paid an undisclosed sum to buy Karlssonbuss from the Karlsson family, who will continue to have a small equity stake in the business.
Karlssonbuss has been operating since 1949 in southern Sweden and has a fleet of 171 buses.
The acquisition represents CBRE Caledon’s second investment completed in the Nordics since 2019 when it acquired a stake in Norwegian ferry and express boat operator Norled.
Andreas Köttering, partner and head of infrastructure Europe at CBRE Caledon, said: “We have acquired a non-cyclical transport business with low volume risk due to protection from availability contracts.
“With the ambition to transition to hybrid and hydrogen power, we will be managing a sustainable transport operation aligning with our net carbon zero target as a business.”
Andreas Karlsson, CEO of Karlssonbuss, said: “We are very excited to partner with CBRE Caledon. We sought a partner that could help us to continue to build KarlssonBuss into a leading bus operator in Sweden and develop our EV capabilities.
“CBRE Caledon is an ideal partner due to their experience in sustainable transport and their commitment to greening transportation infrastructure.”
Stephen Dowd, CIO, private infrastructure strategies, CBRE Caledon, said CBRE Caledon expects the long-term nature of the public transport authorities contracts will provide its investors with predictable cashflows and stable yields.
“With the potential for growth in an expanding market, this investment is an attractive addition to our clients’ portfolio.”
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