Mid Europa Partners, the leading private equity investor in Central and Eastern Europe, announced that it has entered into an agreement to acquire 100% of shares in Urgent Cargus from Abris Capital Partners. The transaction is subject to customary clearance by anti-trust authorities and is expected to close in Q4 2018.

Urgent Cargus isthe second largest courier, express and parcel service provider in Romania, offering last mile delivery to over 85,000 customers, including business clients, e-commerce retailers and private individuals. Urgent Cargus operates a dense network of 5 hubs and 71 stations connected by 360 linehaul routes, which together with its state-of-the-art asset base and logistical capabilities enable the Company to offer high-quality services such as 24-hour delivery across the country.

Mid Europa was advised by White & Case and Bondoc & Asociatii (legal), EY (financial & tax) and Last Mile Experts (commercial).

Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised the seller, Polish-based private equity fund Abris Capital Partners on the sale. 

Nadia Badea, Clifford Chance partner and coordinator of the project team, said:"We are, once again, honored to provide legal support to our long-term client, and thus contribute to another successful private equity deal for the local market. This transaction adds to a representative Private Equity portfolio for our firm, which reflects our strong focus and commitment to the industry". 

The legal team, including Mihai Macelaru (lead counsel) and Radu Costin (senior associate), has advised Abris Capital Partners throughout the entire process, including vendor due diligence, data room preparation, deal structuring, transaction documents drafting, bids evaluation and negotiations with a number of bidders. 

"This has probably been one of the most anticipated exits in the Romanian market, and, as such, it involved a significant amount of preparation, evaluation, and negotiation work for all parties involved. The successful result reflects the exceptional professionalism of all teams, who brought to the table the best practices of the industry, their determination and good will," said Mihai Macelaru, lead counsel.