DC Advisory advises Cube Infrastructure Managers and Management on the sale of Umove to JP Morgan Asset Management’s Global Transportation Group

Background

• Founded in 2013 and headquartered in Copenhagen, Umove provides essential mobility infrastructure services to Public Transport Authorities (PTAs) in Denmark through a diversified portfolio of long-term and availability-based contracts
• Umove employs more than 2,000 employees and operates a fleet of 850+ buses in Denmark
• In 2018, Umove secured the first electric bus contract tendered in Denmark and subsequently acquired De Blaa Busser and was recently voted "The Best Bus Operator" by the Denmark Public Transport Authority
• Cube Infrastructure Managers is an independent mid-market infrastructure investor founded in 2007. Cube Infrastructure Managers has raised and managed over €4.3 billion of institutional capital across four funds and co-investment vehicles

Process

• DC Advisory acted as sole financial adviser to Cube Infrastructure Managers and Management on its sale of Umove
• DC Advisory leveraged its extensive experience to contribute to several work streams including supporting the production of a full suite of due diligence, business plan development and analysis, and commercial negotiation advice

Outcome

• DC Advisory ran a focussed process and ensured all workstreams were successfully completed
• The sale process attracted competition from a number of investors from a diverse pool of liquidity including potential buyers with significant transportation assets already under management, those newer to the sector as well as infrastructure-backed strategic investors
• J.P. Morgan Asset Management's Global Transportation Group has acquired Umove; the transaction closed in October 2024 
• This transaction underscores DC Advisory's deep expertise in the transportation and EV sectors, further solidifying DC Advisory’s track record of successfully advising on high-value transportation deals