Polaris Equity to acquire and merge Larsenbus, Egons, Papuga Bus and Papuga.

Polaris Equity, a Danish private equity firm, agreed to acquire and merge four coach operators Larsenbus, Egons, Papuga Bus and Papuga. The combined entity will be renamed to "Vikingbus" in which 60% will be owned by Polaris Equity and the remaining 40% by current managers. Financial terms were not disclosed. "Together, we will be an even better and stronger partner to large and small customers alike. We will strengthen our already solid local presence and offer customers the largest and most flexible bus and coach fleet in the industry. Based on our combined skills and diverse bus and coach fleet, we will sharpen our competitive edge and enhance our capacity to develop new offers and digital services for our customers," Mogens Pedersen, Egons CEO.