Mutares has sold BEXity to Raben Group
BEXity
BEXity is a leading asset light logistics company in Austria. It was acquired by Mutares from Österreichische Bundesbahnen-Holding Aktiengesellschaft (ÖBB) in 2019. BEXity’s offering includes groupage and charter as well as warehousing services. BEXity operates a nationwide groupage network in Austria with around 650 employees and generated revenues of approximately €180 million in 2020.
The Deal
Within two years, the business of BEXity, which was loss-making at the time of the acquisition by Mutares, was transformed and put on a path to sustainable profitability by the Mutares team. The most important measures for the successful turnaround included the reorganization of the company, the repositioning in the market with the new BEXity brand and, as a quality leader, the focus on profitable customer segments and process optimization. In addition, the subsidiary in the Czech Republic was sold in order to focus entirely on the Austrian sites. The sale of BEXity to Raben is part of Mutares’ portfolio strategy following the achievement of its operating objectives for the company. The Lincoln International-led sales process allowed Mutares to select Raben as the best possible owner for BEXity, with a strong strategic motivation to continue driving the growth and success of the company long term.
Our Perspective
Dirk Engelmann, Managing Director in Lincoln International’s Business Services Group and logistics and transportation sector in Germany, commented, “It’s been a great pleasure to have represented BEXity and Mutares on this cross-border transaction. We are excited for the perspective of BEXity as part of Raben. BEXity ideally complements Raben’s existing networks in Germany and Southeastern Europe. In addition, BEXity adds significant green rail transport capabilities given its high share of proprietary transshipment points with direct rail access near all major Austrian conurbations along the country’s east-west-rail line. The deal clearly fits with the ongoing consolidation trend in the fragmented European road freight sector and the increasing demand of manufacturers and retailers for environmentally sustainable transport solutions.”
Mutares
Mutares SE & Co. KGaA is a private equity holding listed on the Frankfurt Stock Exchange, which is headquartered in Munich, Germany. Mutares acquires small- and medium-sized companies and parts of groups in special situations with headquarters in Europe that show significant potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. In the financial year 2020, Mutares generated consolidated annual revenues of around €1.6 billion with more than 12,000 employees worldwide in the group.
Raben Group
Raben is a provider of logistics services in the areas of national and international transport, contract logistics, air and sea transport, full load transport, intermodal transport and value-added services. Raben has branches in 14 European countries with over 10,000 employees.
The Lincoln International team's commitment, hard work and industry expertise helped us to successfully capitalize on our repositioning of BEXity as an independent company over the last two years. They were instrumental in identifying relevant strategic bidders, orchestrating a competitive auction process and ultimately securing an attractive outcome for Mutares.
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