In September 2004, 3i and Eurofund IV invested €100 million in the capital restructuring of Keolis, with 3i's French team leading this €540 million transaction, supported by 14 3i executives from five different countries.
3i's local presence in countries where Keolis operates, our track record of success in the transport sector and our ability to source new management, including a new chairman, chief financial officer and non-executive director, were important to our partner, SNCF.
Keolis operates bus, tram and train networks on behalf of local authorities in eight countries, employing over 28,000 people.
It has grown revenue by around 15% per annum for the past four years to €2.2 billion in its 2004 financial year.
Keolis is the market leader in France and the number three player in Europe. The investment strategy is to continue to grow Keolis' international platform and to maintain its leadership in France by offering new innovative services and improving cost effectiveness for its clients.
