FLIXBUS ENTERS TURKISH MARKET BY ACQUIRING KAMIL KOÇ
FlixBus is to acquire Turkish bus company Kamil Koç from private equity firm Actera Group. Both parties have reached an agreement regarding Turkey’s most established intercity bus service, Kamil Koç, joining the FlixBus network. The deal will come into effect following approval by the relevant authorities and is expected to finalize in the coming weeks.
Established in 1926, Kamil Koç serves 61 cities all over Turkey and, in 2018, transported more than 20 million people. The company will be gradually integrated into FlixBus’ extensive network which already offers more than 350,000 daily connections to over 2,000 destinations in 28 European countries and the USA.
Jochen Engert, CEO and founder of FlixBus said: “We are extremely happy to welcome Kamil Koç to the family to start a new era in the Turkish mobility market. Our vision is to offer green and smart mobility for everyone, and we are excited to extend our innovative spirit, smart services, and high safety and quality standards to bus travelers in Turkey while benefiting from Kamil Koç’s local know-how. After assessing the business, we will be working towards expanding the existing network even further and optimizing schedules towards demand.”
Founded in 2013 FlixBus established a network that now spans 30 countries and is expressing the wish to expand to more markets and regions in the near future. In 2018 the company transported 45 million travelers across Europe and the US.
Actera Group is the largest private equity firm dedicated to investments in Turkey with assets under management exceeding US$3.3 billion.