DGAP-News: AURELIUS acquires Pullman Fleet Services from Wincanton plc


DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Takeover
AURELIUS acquires Pullman Fleet Services from Wincanton plc

05.11.2020 / 11:13
The issuer is solely responsible for the content of this announcement.

AURELIUS acquires Pullman Fleet Services from Wincanton plc

- Acquisition of market-leading commercial fleet management business, servicing blue chip customers across the UK

- As a standalone business, Pullman will focus on growth and expanding its offering into related services including accident management and vehicle leasing

- AURELIUS will work with Pullman to develop further commercial and growth opportunities through potential collaboration with AURELIUS-owned Rivus Fleet Solutions

- Pullman is AURELIUS' second carve-out announced in two weeks, underscoring its expertise in complex carve-outs, and marking another successful acquisition of a unique asset in fleet services

Munich/London, November 5, 2020 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) ("AURELIUS") today announces that it has agreed to acquire Pullman Fleet Services from Wincanton plc. As a market leader with a particular focus on heavy goods vehicles ("HGV") in the UK, Pullman Fleet Services ("Pullman") will complement AURELIUS-owned Rivus Fleet Solutions ("Rivus") which has an offering for light commercial vehicles ("LCV"s).

Headquartered in Doncaster, Pullman Fleet Services is the UK's largest independent provider of commercial fleet management and maintenance, with a focus on heavy goods vehicles. Pullman has a strong reputation and track record for excellence, throughout 35 years of providing a reliable, flexible and quality service offering, and will be further supported under the ownership of AURELIUS.

Pullman is the second complex carve-out executed by AURELIUS in two weeks, following the announcement of its acquisition of GKN Wheels & Structures from GKN.

Pullman reported revenues of £44m in the financial year 2019/2020. With 27 service centres, over 70 mobile service vehicles, and more than 430 employees and highly trained technicians, Pullman's offering provides a full suite of services for HGV and LCV fleet management outsourcing, repair and maintenance, and pay as you go flexibility depending on a customer's needs.

AURELIUS will capitalise on Pullman's position as the only multi-marque operator of scale for HGVs in the UK, welcoming the business into a portfolio that includes Rivus Fleet Solutions, formerly BT Fleet Solutions, and deploying in-house operational expertise to maximise the commercial potential. Pullman's blue chip customer base operates across the retail, logistics, industrial and service sectors, with a strong growth outlook and sales pipeline. The business will also continue in partnership with Wincanton as its preferred supplier for fleet management, repairs and maintenance following completion.

Joining the AURELIUS portfolio of companies will enable Pullman to take advantage of expertise and market potential developed through its ownership of Rivus Fleet Solutions. Headquartered in Solihull, Rivus Fleet Solutions offers a comprehensive suite of fleet management services, through a network of 55 locations, supported by 800 employees and mobile technicians.

Commenting on today's announcement Dr Dirk Markus, CEO of AURELIUS, said: "I am delighted Pullman Fleet Services is joining our portfolio, shortly after we agreed to acquire GKN Wheels & Structures from GKN. AURELIUS will empower Pullman to capitalise on the strong market growth potential and develop an expanded service offering, for example in leasing and accident management in the months ahead, alongside our portfolio company Rivus Fleet Solutions. Despite the significant uncertainty created by the Covid-19 pandemic, this transaction demonstrates our confidence in the strong position of AURELIUS, our ability to transact through downturns, and build a portfolio of companies that will grow and thrive across multiple sectors throughout Europe.

"Complex carve-outs are a unique expertise of AURELIUS, our investment and operational teams. Following from the successful acquisitions of Pullman and GKN Wheels, AURELIUS expects to see another increase in special situations and divestment opportunities in the months ahead."

Tristan Nagler, UK Managing Director of AURELIUS, said: "I would like to welcome Pullman to the AURELIUS Group, and look forward to partnering with the management team on the next stage of its journey with us. We have confidence that our operational experts, and deep experience in fleet services with Rivus Fleet Solutions, working alongside management will ensure the standalone Pullman business has a solid platform from which to capture the significant growth opportunity available in the UK market."

AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.

AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the listed entity within AURELIUS Group and focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. With a team of approximately 100 in-house operations experts, AURELIUS actively supports its portfolio companies in their long-term development. AURELIUS Equity Opportunities currently has 25 portfolio companies located across Europe which employ around 15,000 people and generate annual revenues of approx. EUR 3.4 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.

AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Capital invests in leveraged buyouts usually in succession or corporate spin-off situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.

With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.

To find out more, visit www.aureliusinvest.de.

Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799 - 0
Fax: +49 (89) 544799 - 55
E-mail: [email protected]

Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799-0
Fax: +49 (89) 544799-55
E-Mail: [email protected]

05.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: AURELIUS Equity Opportunities SE & Co. KGaA
Ludwig-Ganghofer-Straße 6
82031 Grünwald
Phone: +49 (0)89 544 799-0
Fax: +49 (0)89 544 799-55
E-mail: [email protected].de
Internet: www.aureliusinvest.de
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1145814

End of News DGAP News Service

1145814  05.11.2020 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 1.596,06 1.574,86 2.998,35 2.902,94 3.612,00 3.150,50 3.380,00
EBITDA1,2 188,88 35,44 272,56 65,72 80,30 361,50 180,00
EBITDA-Marge3 11,83 2,25 9,09 2,26 2,22 11,47 5,33
EBIT1,4 117,35 -22,64 202,00 11,69 -84,20 85,90 40,00
EBIT-Marge5 7,35 -1,44 6,74 0,40 -2,33 2,73 1,18
Jahresüberschuss1 155,45 -10,48 484,49 -39,52 18,27 121,60 15,00
Netto-Marge6 9,74 -0,67 16,16 -1,36 0,51 3,86 0,44
Cashflow1,7 138,04 1,11 -132,16 -50,00 -76,10 227,50 100,00
Ergebnis je Aktie8 3,81 -1,19 5,98 -1,43 -3,43 1,31 0,50
Dividende8 2,45 4,00 5,00 3,00 0,00 1,00 1,25
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

Aurelius Equity Opportunities
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0JK2A 25,260 Kaufen 751,99
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
15,79 10,12 1,56 21,89
1,70 3,31 0,24 2,14
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
0,00 1,00 3,96 18.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2021 12.08.2021 11.11.2021 31.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-4,25% 1,12% 45,17% 91,36%
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Beteiligungen , A0JK2A , AR4 , XETR:AR4