Clearwater International has advised the shareholder of Buchbinder on the sale of the company to Europcar Group. The transaction was concluded successfully after the approval of antitrust authorities.
Founded over 60 years ago, Buchbinder is a well-established Germany-based car rental company, a market leader in Austria and is present in Hungary and Slovakia. It has an extensive network of over 150 stations of which 18 are airport stations with an average fleet in excess of 20,000 vehicles. It is the 5th largest car rental company in the market with a solid positioning as a low cost operator, as well as a leader in the vans and trucks segment. In 2016, Buchbinder Group generated revenues of around €200m.
The acquisition of Buchbinder is a strategic step in the transformation of the Europcar Group and its ambitious development plans. It will position the group as a leader in Germany, the group’s primary market, and particularly for the vans and trucks market. Buchbinder will also offer a strategic platform to delve further into the large pool of German and Austrian travelers and to expand in Eastern Europe.
The Clearwater International team was led by Managing Partner Markus Otto. The global automotive sector team headed by Managing Partner Tobias Schätzmüller supported the deal team with its automotive sector knowledge and experience.