Cube acquires Groupe Lacroix

Cube Infrastructure Fund II (“Cube”) purchased 100% of the shares in Groupe Lacroix (“Lacroix” or the “Company”). The Company was founded in 1953 in the Paris area, France, and has successfully developed through organic growth and bolt-on acquisitions to become one of the leading family- owned public transport bus operators in the country and in the Île-de-France region. It employs c. 1,250 people and operates a fleet of more than 650 buses.

Operating mainly in the regulated public transport sector, the Company benefits from the strong growth drivers of its market, sustained by population growth and further urbanization in the greater Paris area, increasing environmental awareness and upcoming opening of the market.
Following the acquisitions of Umove in Denmark and Mekka Traffik in Sweden, Cube is taking an important step in the public transport market in France, in line with its platform development strategy.

Jérôme Jeauffroy, Managing Partner at Cube Infrastructure Managers, commented: “Lacroix has developed an outstanding track record of serving passengers and public transport authorities and Cube is looking forward to supporting Lacroix’s further development”.

DLA served as legal advisor, Deloitte, TAJ and PwC as financial, tax and ESG due diligence advisors respectively.

About Cube

Cube is a leading European infrastructure fund, focusing on investments in regulated, brownfield infrastructure assets, addressing the essential infrastructure needs of the local public authorities and populations, primarily within the European Union, with a “Buy- &-Grow” strategy. Cube focuses on mainly three strategic markets: Public Transport, Energy Supply (notably district heating and energy efficiency) and Fiber Communication, fully consistent with its ESG commitments, and levering on the experience of investing and managing its first infrastructure fund Cube Infrastructure Fund.