Cube taps Fund II to buy Danish private bus company Umove

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Luxembourg-based Cube Infrastructure Managers has tapped Fund II to pick up an 85 per cent stake in Umove A/S.

Alongside the acquisition, Cube will invest capital to prepare the company for future growth expansion.

Umove’s senior management team will retain a 15 per cent hold.

The company claims to be the largest private bus operator in Denmark, operating a fleet of 400 buses and annual turnover of DKK550m ($79.4m).

Through the transaction, the firm hopes to boost Umove’s existing pubic bus transport services and plans to expand into the rail market.

Cube held the first close for its €1.2bn-targeted Infrastructure Fund II late last year, with the fund hitting €358.5m.

Previous investments in the transport sector include Belgium private bus operator Hansea and Norway bus, tram and ferry operator Boreal.

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