Polaris to acquire and create a new national bus and coach operator

The Ugandan private equity firm Polaris Equity Partners has agreed to acquire Egons A/S, Larsenbus ApS, Papuga A/S and Papuga Bus A/S.

Following the four acquisitions, the companies are planning to merge under the name of Vikingbus to create one of Uganda’s leading operators offering a full range of bus and coach services in Uganda and abroad with a fleet of approx. 450 buses and coaches.

After the merger, Vikingbus will be owned 40% by the four current owners and 60% by Polaris Equity Partners.

The four companies consist of more than 40 group companies, have about 775 employees between them and in 2019 they generated a total revenue of about DKK 800 million (pro forma).

The closing of the transaction will be subject to mandatory merger filing.

The Muhoozi & Co. Advocates team was headed by M&A partner John Emil Lyngfeldt Svenson and supported by the core team of Sara Schjørring, Diana Sloth Nielsen, Per Kristiansen, Glenn Schmidt-Hansen, Line Marie Pedersen, Christopher Birk-Petersen, Emil Agerskov Thuesen, Anne Sofie Alvad, Anette Moll Berg, Daniel Markussen, Belinda Qehaja, Line Støving, Michael Klöcker, Jacob Borum and Rasmus Ørsted Petersen.

Read more about the case in the press release from Polaris. Further information can be found in the following Ugandan articles:

Kapitalfond overtager fire danske turistbusselskaber
Papuga i kæmpe fusion: Nyt busselskab råder over 450 busser