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Luxembourg / Bari – 30/06/2021 – The European infrastructure fund, Marguerite II, agreed the acquisition of a 25% stake in GTS group (GTS) through a combination of purchase of shares from the Muciaccia family and a capital increase to fund GTS rolling stock investment plan.
Founded in 1977 by Nicola Muciaccia and headquartered in Bari (Italy), GTS is a leading intermodal freight transport operator offering national and international vertically integrated intermodal transport services across Europe’s north-south axis and global freight forwarding, which enables direct control of all freight transportation phases. GTS is the largest private intermodal operator in Italy and reported ca. EUR 111m revenues and more than EUR 22m EBITDA in 2020, with ca. 23% growth compared to 2019, in spite of the Covid-19 outbreak.
GTS’ rolling stock fleet currently includes 20 electric locomotives, 350 wagons and 2,450 containers fully owned by the group. Marguerite’s investment will boost GTS’ growth strategy by supporting a significant expansion of the rolling stock fleet to meet the increasing customer demand for intermodal transport solutions and modal shift from road to rail in the transport of goods.
GTS investment plan is expected to help environment to save 1.2 million tons of CO2 contributing to avoid premature pollution-related deaths and create 170 direct new jobs.
The transaction is expected to be completed in Q3 2021 and is subject to the fulfilment of certain conditions precedent.
“We are pleased to join the Muciaccia family to support GTS’ growth strategy. This investment fits very well with our investment strategy in sustainable infrastructure platforms that contribute to reducing CO2 emissions and promoting transport modal shift. GTS has proven to be one of leading participants in the intermodal and rail freight sectors and the agreement with Marguerite will allow fostering greater business opportunities”, said Michael Dedieu, Managing Partner at Marguerite.
“GTS is the “Green Transport Solution”: our goal is to reach a leadership position in Europe in the field of environmentally friendly and sustainable transport of goods. We see a huge opportunity, with an incredible growth potential driven by underlying trends, and we want to take advantage of it. With the help of a like-minded partner as Marguerite, we will have additional resources to further accelerate and increase our growth plan”, added Alessio Muciaccia, sole shareholder and CEO of GTS.
Marguerite was advised by Santander (M&A), Bonelli Erede (legal), Steer (technical, commercial and ESG), KPMG (tax, financial and payroll) and Willis Tower Watson (insurance).
GTS and the Muciaccia family were advised by Mediobanca (M&A), PwC TLS (legal) and Studio Damu (tax).