PRINT THIS PAGE German private equity firm Argantis to acquire haulage firm NordSüd 10/12/2004. Source: AltAssets. 
 Cologne-based private equity firm Argantis has done its first deal since being set up last year, acquiring haulage business NordSüd Speditionsgesellschaft from Hella KGaA Hueck & Co. Negotiations started in summer 2004. The financial terms of the deal have not been disclosed.
Argantis was set up by banking houses Sal. Oppenheim and IKB Deutsche Industriebank in December 2003 and had its first fund closing in April 2004. The final closing, with a target of €200m, is expected in the course of 2005.
NordSüd is a market service provider focusing on efficient road haulage and specialising in clients from the automotive component, household appliance and the steel, wood and plastics processing industries. The company offers Europe-wide trucking services and warehousing and transport-related services for third parties.
The management buy-out of NordSüd follows the decision of the Hella Group to concentrate on its core automotive component activities. NordSüd will continue to work as a service provider for Hella following the deal.
Argantis managing director Michael Hildisch said, 'Argantis will actively support the expansion process at NordSüd with a view to enabling the company's business potential to be tapped to the full.'
Argantis managing director Fritz Graf von der Schulenburg added, 'Due to the increasing outsourcing of road haulage services, the market has further growth potential to offer.'
Argantis specialises in management buy-outs in the mid-cap segment (Mittelstand).
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