Transport equipment specialist, Wabco, has successfully acquired the remaining 3.16 per cent of Transics International, a Belgian company specialised in fleet management solutions for the trucking industry.
In February, Wabco had already acquired 96.84 per cent of Transics International shares for a net consideration of €95.8 million. The global powerhouse subsequently made a public offer to acquire the remaining 3.16 per cent of outstanding shares, consistent with Belgian takeover rules.
As a result of the successful takeover, Wabco now owns 100 per cent of the securities issued by Transics International – having paid in net consideration a total amount of €99.9 million.
“We are pleased to complete Wabco’s acquisition of Transics International as planned,” said Nick Rens, Wabco Executive Officer and Vice President, Trailer Systems, Aftermarket and Off-Highway.
“We reiterate that the synergy of Wabco and Transics superbly aligns with a Wabco strategic objective to further grow business with fleets around the world as we expand our portfolio of innovative solutions tailored to the specific needs of our global customer base.”
As part of Wabco, Transics International will continue to operate under its own brand. Based in Ypres, Belgium, Transics International also has offices in France, Germany, Ireland, Italy, the Netherlands and Spain, and it manages a sales network across Europe.