Cabonline Group Holding AB acquired Taxi Västerås, including five subsidiaries

Sweden M&A 17 April 2019
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Cabonline Group, a Stockholm, Sweden-based taxi holding company in the Nordics, announced that it acquired Taxi Västerås and its five subsidiaries.

The financial details were not disclosed. The deal strengthens Cabonline’s position in Central Sweden. Cabonline already operates in the regions surrounding Västmanland: Uppsala, Södermanland and Örebro. 

The acquired operations comprise 148 taxis, 40 of which are owned by Taxi Västerås and the remaining 108 by connected transporters. In 2018, Taxi Västerås had revenue of approximately SEK 150M ($16M), with a relatively large portion pertained from public contracts.

Cabonline, led by CEO Peter Viinapuu, is the leading taxi company in the Nordic region with 2,700 connected transporters and approximately 5,300 vehicles in Sweden, Norway and Finland.

The company operates a series of well-known brands, such as TaxiKurir, Norgestaxi, TOPCAB, Kovanen, Taxi Skåne, Taxi Väst, Umeå Taxi and Sverigetaxi, and generates revenue of approximately SEK 6.2 billion ($670M) per year.

Cabonline is owned by Luxembourg-based H.I.G. Luxembourg 56 SARL, the European arm of global private equity firm H.I.G. Capital. HIG holds about 94% of the company, which it acquired in 2015.