The owners of Umove have agreed to sell 85% of the shares in Umove A/S to Cube Infrastructure Fund II, a long-term infrastructure fund managed by Cube Infrastructure Managers. The Umove Senior Management team will keep 15% of the shares in the company.

With Cube’s predecessor fund, Cube Infrastructure Fund (Cube I), previous investments in public transport include Hansea, the second largest private bus operator in Belgium and Boreal, a leading operator in Norway operating 800+ buses, trams and a fleet of 43 ferries and fast ferries. Cube I has also invested in Germany, in partnership with Ferrovie dello Stato Italiane SpA, in Netinera (formerly Arriva Deutschland). The Company is the largest private operator in Germany, operating 39 Mio. train km and 36 Mio. bus km per year.

Umove has, with Cube, teamed up with a partner that has a strong track record within public transport investments and that has the financial strength to support further growth of the company.

Umove is Denmarks largest private bus operator serving passenger across Denmark under contracts with four out of five PTA’a. With 1000 employees, 400 buses and an annual turnover of 550 MDKK, the company operates 40 M kilometers a year. Umove A/S operates through 2 operating entities – Umove Øst A/S and Umove VEST A/S, with headquarters in Glostrup and Horsens.

Johnny Hansen, CEO and founder of Umove A/S, said:

”Having CUBE as our partner is ideal for Umove. We have grown from nothing into being the largest private operator of public bus transport in Denmark over the last four years. We have the ambitions to further develop our current activities, but also to move into rail operations. As a management team we have the appropriate experience, but with CUBE as our majority shareholder we get access to the necessary financial strength and the experience and support of colleges in our neighboring countries”.