Nobina acquires Telepass and becomes leading service traffic provider in Sweden
Nobina AB (“Nobina”) has entered an agreement to acquire 100 percent of Telepass AB (“Telepass”), a market leader in service traffic in Skåne, Sweden. Nobina, through its subsidiary Samtrans, will thereby become a leader in service traffic in Sweden and act as a platform to continue growing and broadening the offering in Sweden and Denmark. The purchase price comprises a fixed consideration of SEK 150 million and a potential earn-out consideration of up to SEK 45 million over the coming three years.
Telepass has grown significantly in the Skåne region in recent years. Since 2017, the company has shown an annual growth rate (CAGR) of approximately 67 percent. Its sales in the 2020 fiscal year amounted to about SEK 350 million, with an EBITDA of approximately SEK 60 million, corresponding to an EBITDA margin of 17 percent. The company’s contracts follow standard industry practice and generally extend for four years.
Nobina’s President and CEO, Magnus Rosén, comments: “We are delighted and proud to be able to further strengthen our service traffic offering together with Telepass and its strong founders, management and employees. Through the combination of Samtrans, Göteborgs Buss and Telepass, we are creating the market leading supplier of service traffic in Sweden. We look forward to joining forces and continue developing our offering to society.”
The acquisition of Telepass has enabled Nobina to establish itself as a national player in service traffic, with a strong presence in all three of Sweden’s metropolitan regions. Nobina has gathered these operations under Samtrans with the goal of offering society resource-efficient, high-quality solutions with the potential to drive the transition to fossil-free transportation – also in service traffic – forward.
Petra Axelsson, Director Strategy and M&A at Nobina, comments: “Telepass is a good example of a company that is an excellent fit with our acquisition strategy – a well-managed company that, together with Nobina, has the potential to continue developing in a positive direction. We always look for acquisition opportunities where we can add value and create profitable growth, regardless of if it is driven by generational shift, access to new competence and/ or capital.”
Tomas Hansson, CEO of Samtrans, comments: “With its solid expertise in service traffic, strong presence in Skåne and healthy profitability, Telepass is the perfect match to Nobina’s focus on growing service traffic. Together with Göteborgs Buss and Samtrans, we have now established ourselves as the leader in service traffic. This will provide us with new possibilities to help society tackle the challenges it is currently facing – not least through improved quality and resource efficiency. We very much look forward to working with Telepass’ founders, management and employees”
Otto Svensson, founder and CEO of Telepass, comments: “We are very pleased that we will now be able to work together with Samtrans, a large, long-term and very well-managed company. We also have a positive view of the intention to retain Telepass as a separate subsidiary in the Group to leverage the strengths of the company in the best way. We look forward to continue driving the development of service traffic forward together with Samtrans.”The acquisition, which is conditional on the approval of the Swedish Competition Authority, is expected to be concluded July 1st, 2021.
This information is such that Nobina AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was published, through the agency of the contact persons mentioned below, at 8:30 a.m. on 6 May 2021.
Telepass was founded in 2008 by the sellers Otto Svensson and Staffan Einarsson, and mainly provides passenger transportation services, including mobility services, patient transport and school transport services on behalf of regions and municipalities. The company also offers coach hire services under the Sydbuss brand. Telepass has approximately 350 vehicles at its disposal and 465 employees. Its head office is located in Kristianstad, with operating units in Ystad, Helsingborg, Vaggeryd, Sävsjö and Olofström.