Mutares investment BEXity sells activities in the Czech Republic as part of a management buy-out; second exit in Corona times

Munich, 30 April 2020 – BEXity, the market leader for cross-border transport and logistics services in the Austrian market and, since the end of 2019, a 100% holding of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has sold its subsidiary European Contract Logistics (EC Logistics) to the CEO of EC Logistics in a management buy-out. The transaction is part of the initiated reorganization at BEXity. A cooperation agreement with EC Logistics ensures that the service level for BEXity customers in the Czech Republic will remain unchanged.

EC Logistics is a global provider of international road, air and sea freight. The Company, headquartered in Prague, Czech Republic and founded in 1991 provides comprehensive services for the automotive, hi-tech, pharmaceutical, chemical and food industries. Mutares acquired the company as part of the BEXity Group acquisition in November 2019. In 2019, the company generated sales of EUR 10 million and an EBITDA of EUR 70,000 with 51 employees. The parties agreed not to disclose the purchase price.

Johannes Laumann, CIO of Mutares, comments: “I am convinced that we have found an ideal solution for all parties involved by selling EC Logistics to the local management. I wish the management team around Roman Goerojo every success and look forward to further successful cooperation. This transaction takes us a big step forward in the realignment of BEXity. At the same time, the sale brings in a profit for BEXity, which will be used for further focusing and transformation”.

Roman Goerojo, CEO of EC Logistics, says: “For almost 30 years the EC Logistics team has been a very reliable choice for customers. The acquisition of the company allows us to further develop our core businesses of transport and logistics and our values of quality, flexibility and neutrality. Reliability cannot be bought, it can only be built. We have always pursued this sustainable strategy and will continue to do so in the future”.