TALLINN, June 15, 2026 – LionCliff Capital, the Nordic investment banking firm, is delighted to have advised Hansa Group in the sale of Hansabuss to CapMan Infra.
Hansa Group has agreed to sell Hansabuss, the largest private bus operator in public lines in the Baltics, to CapMan Nordic Infrastructure II, a fund managed by CapMan Infra. The divestment is aligned with Hansa Group’s strategy to enable focus and additional growth on its remaining core business activities.
Founded in 1995, Hansabuss has developed into a leading Baltic transportation company with a strong position in public transportation, charter services and other regular transportation for public sector clients and corporations. The company operates across Estonia and Latvia, and has a track record of profitable growth driven by successful tender performance and market consolidation. The company is well positioned to benefit from the long-term market liberalisation trend in the Baltic public transportation sector, including green transition requirements in tenders such as low-emission and electric fleets.
“Having successfully built Hansabuss into the largest privately owned bus transport company in public lines in the Baltics over the last three decades, the time was right for Hansa Group to pursue this transaction and find a strong and experienced new owner for our bus transport activities as we focus on our other existing business activities in the Baltics and internationally. Hansabuss has a strong foundation, an experienced management team and significant potential for future growth. Under the new ownership, Hansabuss will be well positioned to accelerate its development, strengthen its market position, and capitalise on new opportunities. At the same time, the transaction enables Hansa Group to allocate greater focus and resources to its existing and future business activities, both in Estonia and internationally. The decision is therefore based on a long-term strategic vision, while creating opportunities for all parties involved,” says Neeme Tammis, Founder of Hansa Group.
“CapMan Infra as the new owner of Hansabuss will bring valuable international experience and industry expertise that will strengthen our current operations and future developments. We will be better positioned to serve our customers, pursue additional growth opportunities and strengthen our market position in the Baltics,” says Indrek Halliste, CEO at Hansabuss. CapMan Infra’s investment will support Hansabuss in its next phase of growth. As the new owner, CapMan Infra will provide strong financial backing to drive low emission and electric fleet investments, operational development, further strengthening the company’s competitiveness and growth prospects.
“We are proud to invest in a company with a strong heritage and culture, as well as an important role in public transportation in Estonia and Latvia. Hansabuss is well positioned to continue developing its operations and strengthening its market position. We look forward to supporting the company together with its management and employees in the next phase of growth,” says Eero Hautaniemi, Partner at CapMan Infra.
The CapMan Infra team has significant experience in the public transportation sector through its investments in Finland’s largest bus transportation company Koiviston Auto and Norwegian ferry operator Norled. In both investments, fleet investments supporting the green transition, tendering capabilities, and operational development have been central to value creation.
All current employees of Hansabuss will remain in their current positions following the acquisition. The transaction will have no impact on Hansabuss’ existing customers or services.
The transaction is subject to customary closing conditions and merger control clearance in Estonia.
Hansa Group was advised by LionCliff Capital as financial adviser and Ellex as legal counsel.
LionCliff Capital is a Nordic investment banking firm that provides advice and services to help clients with mergers & acquisitions (M&A), financing and other transactions. LionCliff Capital provides financial services to diversified client base that includes large corporations and emerging companies, government agencies, institutional investors and individuals. LionCliff Capital acts for clients throughout the Nordics and Baltics from its hubs in Stockholm, Tallinn, Riga and Vilnius.
Further information:
Mihkel Piirsoo
Co-Founder and Partner
Tel: +372 56 800 421
E-mail: mihkel.piirsoo@lioncliff.com
