CAF incorporates leading rolling stock company in Sweden
The Spanish train manufacturing group CAF has purchased EuroMaint, a leading provider of rolling stock maintenance in Sweden. The acquisition is a part of the company’s strategy to expand its business into foreign markets. The Swedish company will allow CAF to fortify its position in Northern Europe.
EuroMaint was acquired by CAF from Special Situations Venture Partners Funds for approximately 80 million Euros. The agreement is advised by private equity firm Orlando Nordics. The deal should be finalised by July 19. The purchase of EuroMaint is the CAF’s second step in implementing its Strategic Plan for 2020 after the incorporation of Solaris, a Polish manufacturer of buses and trams, in 2018. Inter alia, the strategic document provides strengthening the company’s positions in the rolling stock and services business.
EuroMaint has more than 100 years of experience in rolling stock maintenance. The company’s headquarter is located in Solna Municipality, a part of the Stockholm urban area. EuroMaint has more than 20 workshops across the country. It provides fleet maintenance of passenger and freight rolling stock as well as supplies the parts for them. The EuroMaint’s staff consists of around 1,000 people. The company generated revenues of approximately 150 million Euros in 2018.