Stockholm, Sweden
CBRE Caledon Acquires Bus Operator in Sweden
27 Jan 2021
Senior Director, Corporate Communications
Pam Barnett
Senior Director, Corporate Communications
CBRE Caledon Capital Management Inc, announces the acquisition of Karlssonbuss, a regional and school bus operator in southern Sweden. The vendors of this family-owned bus operator, the Karlsson family, will continue to have a small equity stake in the business.
CBRE Caledon is making the investment on behalf of a fund sponsored by the firm as well as a separately managed account. It represents the second investment completed in the Nordics since 2019.
Karlssonbuss has been operating since 1949 in southern Sweden, with the majority of its customers being public transport authorities for regional routes and local authorities for school bus services.
Karlssonbuss is an established transport company with a strong performance track record and is a recognisable brand in Sweden. The company has demonstrated a history of successful growth by winning new Public Transport Authorities (PTA) contracts, diversifying its service and by acquiring transport companies.
The fleet of 171 buses currently uses biodiesel, a more environmentally friendly fuel with the intention to transition further to even lower carbon emission solutions in the future.
“We have acquired a non-cyclical transport business with low volume risk due to protection from availability contracts. With the ambition to transition to hybrid and hydrogen power, we will be managing a sustainable transport operation aligning with our net carbon zero target as a business.
We look forward to taking this successful operator and moving it onto the next level with our ability to invest and take advantage of future bus tenders and a fragmented industry structure”, commented Andreas Köttering, Partner and Head of Infrastructure Europe at CBRE Caledon.
CEO of Karlssonbuss, Andreas Karlsson, said, “We are very excited to partner with CBRE Caledon. We sought a partner that could help us to continue to build KarlssonBuss into a leading bus operator in Sweden and develop our EV capabilities. CBRE Caledon is an ideal partner due to their experience in sustainable transport and their commitment to greening transportation infrastructure.”
Stephen Dowd, Chief Investment Officer, Private Infrastructure Strategies, CBRE Caledon, added: “We expect the long-term nature of the PTA contracts will provide our investors with predictable cashflows and stable yields. With the potential for growth in an expanding market, this investment is an attractive addition to our clients’ portfolio.”
About CBRE Caledon
CBRE Caledon Capital Management Inc. is a leading infrastructure and private equity solutions provider. We create long-term value for clients by accessing and managing high-quality investment opportunities and building comprehensive infrastructure and private equity portfolios. Today, our dedicated team of 50 professionals represents $8 billion on behalf of institutional investors globally. CBRE Caledon is a separate business unit within CBRE’s independently operated investment management subsidiary, CBRE Global Investors. For more information about CBRE Caledon, please visit www.cbrecaledon.com.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.
CBRE Caledon is making the investment on behalf of a fund sponsored by the firm as well as a separately managed account. It represents the second investment completed in the Nordics since 2019.
Karlssonbuss has been operating since 1949 in southern Sweden, with the majority of its customers being public transport authorities for regional routes and local authorities for school bus services.
Karlssonbuss is an established transport company with a strong performance track record and is a recognisable brand in Sweden. The company has demonstrated a history of successful growth by winning new Public Transport Authorities (PTA) contracts, diversifying its service and by acquiring transport companies.
The fleet of 171 buses currently uses biodiesel, a more environmentally friendly fuel with the intention to transition further to even lower carbon emission solutions in the future.
“We have acquired a non-cyclical transport business with low volume risk due to protection from availability contracts. With the ambition to transition to hybrid and hydrogen power, we will be managing a sustainable transport operation aligning with our net carbon zero target as a business.
We look forward to taking this successful operator and moving it onto the next level with our ability to invest and take advantage of future bus tenders and a fragmented industry structure”, commented Andreas Köttering, Partner and Head of Infrastructure Europe at CBRE Caledon.
CEO of Karlssonbuss, Andreas Karlsson, said, “We are very excited to partner with CBRE Caledon. We sought a partner that could help us to continue to build KarlssonBuss into a leading bus operator in Sweden and develop our EV capabilities. CBRE Caledon is an ideal partner due to their experience in sustainable transport and their commitment to greening transportation infrastructure.”
Stephen Dowd, Chief Investment Officer, Private Infrastructure Strategies, CBRE Caledon, added: “We expect the long-term nature of the PTA contracts will provide our investors with predictable cashflows and stable yields. With the potential for growth in an expanding market, this investment is an attractive addition to our clients’ portfolio.”
About CBRE Caledon
CBRE Caledon Capital Management Inc. is a leading infrastructure and private equity solutions provider. We create long-term value for clients by accessing and managing high-quality investment opportunities and building comprehensive infrastructure and private equity portfolios. Today, our dedicated team of 50 professionals represents $8 billion on behalf of institutional investors globally. CBRE Caledon is a separate business unit within CBRE’s independently operated investment management subsidiary, CBRE Global Investors. For more information about CBRE Caledon, please visit www.cbrecaledon.com.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.