Clearwater International advises the shareholder of Buchbinder on the sale of the company to Europcar Group


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.

“As a combined entity, we believe Buchbinder and the Europcar Group can provide a more comprehensive range and as a result, even better services to our customers. I am delighted about this opportunity to strengthen the Buchbinder brand in the future and know that I can count on the support of all the employees of the Buchbinder Group to continue to spread the Buchbinder philosophy.”

Konrad Altenbuchner, Shareholder and Managing Partner, Buchbinder

“The finalisation of the Buchbinder acquisition is a key milestone of our way towards our 2020 ambitions. We are pleased to welcome within the Group Konrad Altenbuchner and all his team and our priority now is to work jointly on the integration to make this acquisition a success for both our companies and to allow a strong value creation.”

Caroline Parot, CEO, Europcar Group

“We are delighted to have assisted the shareholder in finding the perfect partner for Buchbinder in the highly competitive car rental market. This transaction represents a landmark transaction in the European vehicle rental services sector and mobility market. As a strong strategic partner Europcar Group is able to further manifest Buchbinder’s leading market position and capitalise its growth opportunities.”

Markus Otto, Managing Partner, Clearwater International