Cube Infrastructure Managers is buying a majority stake in Austrian temperature-controlled logistics operator Müller Transporte on behalf of its latest core European fund.

The European mid-market infrastructure investor is investing an undisclosed amount to buy the stake on behalf of Cube Infrastructure Fund III.

Cube said Fritz Müller, who has led the family company’s development over the last decades, will retain a 30% stake and Fritz and Karin Müller will continue to lead the Group as CEO and CFO, respectively.

Müller Transporte is a leading Austrian temperature-controlled logistics operator with domestic agri-food and European pharma activities. The company operates through four temperature-controlled platforms in Austria and a specialised fleet of 375 vehicles

The latest deal is Cube’s second investment in the European temperature-controlled logistics market, following the acquisition of Dispam in France in June this year.

Stefan Weis, partner of Cube Infrastructure Managers, said: “Cube invests in businesses which capitalise on megatrends driving the need for sustainable infrastructure. We support operating companies managing and owning essential infrastructure in Europe and Müller Transporte is a perfect example of this commitment.

“We have been impressed by the outstanding development achieved by Müller Transporte over many years and are looking forward to supporting our partners Fritz and Karin Müller in their growth initiatives.”

Fritz Müller said: “Our goal is to further develop Müller Transporte as the first choice of its food and pharma clients over the next years. In Cube we have found the ideal partner to facilitate this growth with a long-term and sustainable orientation.”

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