Urban mobility: CAF buys Solaris and gets on the road to drive the future of urban transportation


CAF reaffirms its commitment with sustainable cities.

The Spanish multinational has acquired the Polish bus manufacturer Solaris Bus & Coach, a transformational deal that sets the company on the road to become leader in urban mobility. The tie will allow CAF to expand its offer beyond the rail equipment sector and to strengthen its position in the electric bus market.

The acquisition of Solaris shows our commitment to our vision of profitable growth and opens new strategic markets to CAF

Andrés Arizkorreta
President and Chief Executive Officer of CAF

Together with Solaris, we will create a leader in urban mobility solutions beyond rolling stock, particularly in the e-mobility segment. We want to continue using and to develop Solaris’ valuable brand and keep its Polish character. The combination of both companies know-how in production, design, technology and services, together with the track record of Solaris in bus product innovation will allow us to better serve our clients while creating shareholder value

Andrés Arizkorreta
President and Chief Executive Officer of CAF

CAF is betting on the transport of the future and has taken a huge step with this transformational transaction valued a bit over 300 million euros. Solaris, a family company established in 1996, is a global supplier of conventional and electric buses. With a workforce of more than 2.300 people and an annual turnover close to 450 million euros, it is one of the main producers of clean vehicles in the UE, be it electric, hybrid or trolley. CAF, on the other hand, is a global rail equipment leader that operates in more than 40 countries, employing nearly 8.000 staff. In 2017 CAF recorded sales of 1.5bn euros. 

The acquisition of Solaris Bus & Coach, one of the main actors in urban sustainable mobility in Europe, will allow CAF to broaden its already extensive range of products enabling it to meet the current and future needs of urban transportation, an excellent opportunity to position itself in a growing business in the context of global consolidation. The deal will boost CAF’s bus subisidiary Vectia and opens new business opportunities in the railway business, an area that has launched CAF to become a global leader in areas like rolling stock.

CAF’s acquisition, aligned with its strategic plan, will increase the company’s technological capacity to offer integrated transportation solutions to a wider range of clients. The deal also offers important synergies due to the complementarity of the businesses and it opens the door to cross sales with more rounded offers. 

Societe Generale acted as sole financial advisor to CAF and demonstrated its capacity to accompany the client in a highly competitive buy-side process. “We are very proud to have been able to advise the company to take this very important step since it is a real transformation for CAF and a clear commitment to sustainable mobility”, explains Laetitia Rodríguez Aniorté, Banker at Société Générale.