BUSINESS

Abris concludes the acquisition of Cargus

Cargus International, one of Romania’s top domestic delivery companies, has been purchased by Abris Capital Partners, a leading mid-market private equity fund, a press release informs. Cargus will be part of the latest EUR 450 M fund raised by Abris to capitalize on investment opportunities in Central and Eastern Europe. The transaction taking Cargus from Deutsche Post DHL to Abris was signed in October 2012 and approved this year by the Romanian competition authorities.

A company that currently employs more than 900 dedicated professionals, Cargus had been owned by Deutsche Post DHL for the past four years. ”(…) We will be updating our customers on our multi million euro investments in fleet, infrastructure, IT and our product and service enhancement programs”, explains Gian Sharp, Cargus CEO. ”(…) Cargus has a strong market position and is already on a positive trajectory in terms of delivering on our 2013 business plan. We are looking forward to invest and grow Cargus while also scouting for further investment opportunities on the Romanian market”, states Cezar Scarlat, Head of Abris Romania – Managing Director, Chairman of The Supervisory Board Cargus.

 

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