Nobina completes strategic acquisition and focuses on special public transport services in Denmark
Nobina has entered an agreement to acquire parts of the bus company Örslev Holding ApS in Denmark. The acquisition strengthens Nobina’s position in the Danish market ahead of future tenders and broadens the operations to encompass special public transport services in Denmark.
The acquisition encompasses a business with approximately 16 buses in tendered regular services on South Zealand and 21 minibuses for special needs transportation. The purchase price corresponds to DKK 15.5 million on a cash and debt-free basis.
Örslev is a privately owned public transport company with operations on South Zealand and was recently awarded the prize for “Bus Operator of the Year” by MOVIA, which is responsible for public transport on Zealand.
“The acquisition of Örslev strengthens Nobina’s market position and broadens operations to encompass special public transport services in Denmark. I look forward to welcoming our new colleagues to Nobina and, by pooling our expertise, continuing the development of public transport and accessibility in society,” says Niels Peter Nielsen, Managing Director of Nobina Denmark.
“We are pleased to have reached this agreement with Nobina, an established and long-term operator in Denmark. Nobina’s expertise in public transport and its strong values will enable the continued development of both employees and the operations,” says Ole Pedersen, Managing Director of Örslev.
The acquired parts of Örslev reported sales in 2018 of approximately DKK 40 million and EBITDA of DKK 4.4 million.