Waberer's Group acquires majority stake in Petrolsped

Waberer's Group acquires majority stake in Petrolsped
© Waberer

Waberer's International Nyrt. has acquired a 51% share in Petrolsped Ltd, a major logistics service provider in Hungary.

This development follows a preliminary agreement made on July 19, 2023 and a thorough due diligence process conducted by Waberer.

Petrolsped, which operates primarily in Hungary and Romania, offers a range of rail logistics services. The company and its subsidiaries, Pultrans and PSP Cargo Romania have established a varied service portfolio over the past 15-20 years. This portfolio includes bulk and specialized rail transport services, primarily available in Hungary and at a regional or European level.

The services of the Petrolsped group complement those of Waberer's road transport business, combining freight forwarding and rail transport services with their own locomotive and wagon assets. Petrolsped's primary commodities include agricultural products, construction materials, oil products, and vehicles. The company is also nearing the completion of an intermodal terminal in southern Hungary to support transport between the Balkans and Western Europe.

In 2022, Petrolsped reported a consolidated turnover of EUR 53 million and an EBIT of EUR 3.8 million. The completion of this acquisition is contingent on anti-trust clearance and other conditions detailed in the sale and purchase agreement. It is anticipated to be finalised at the beginning of 2024.

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