| In December 2005,
STAR completed the acquisition of 75.2% of Abellio GmbH (“Abellio”),
the Essen-based public transport operator, from Abellio Beteilegungs
GmbH (“ABG”) (a subsidiary of the City of Essen). ABG continued to hold a minority stake in the business.
Abellio is a German transport company with interests in both local transport (bus and trams) and regional rail operations across eight federal states in Germany. Germany is Europe's largest local public transport market and is increasingly moving towards liberalization, primarily due to EU regulation and municipal budget constraints.
STAR supported management to grow the business through both acquisition and participation in public tenders. Under STAR ownership, Abellio grew from c. €20 million to c. €100 million of revenues
The business was sold to NedRailways in December 2008.
Why did Abellio fit STAR’s investment strategy?
- Public transportation is a core service and a capital intensive
business.
- The contracts provide for strong and long term cash flow.
- It offers the opportunity to enhance value and generate upside by acquiring similar businesses in the sector.
http://www.abellio.de
 
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