Monday, February 18, 2013

Another Logistics Takeover by Road Haulage and Freight Forwarding Group

DSV Continues Its Expansion Policy
Shipping News Feature

DENMARK – WORLDWIDE – The DSV road haulage and logistics group announced last week that it had signed an agreement to acquire the entire share capital of Seatainers Group A/S. Seatainers has a services portfolio which includes a raft of logistics activities from warehousing through road and air freight to ocean shipping services. The group also specialises in project freight forwarding and undertakes large and complex transport assignments for the renewable energy industry amongst others.

The activities of the Seatainers Group are expected to generate annual revenue of approx. DKK 1.0 billion via its offices in Denmark and the USA, China, Singapore, Australia and Latvia with project activities expecting to contribute 60% of the revenue. Around one hundred and fifty of the one hundred and eighty employees are based in Denmark. The deal is subject to the usual covenants regarding approval by the competition authorities and the price has not been disclosed by either party. Speaking of the acquisition Jens Bjørn Andersen, DSV Group CEO, commented:

"Seatainers Group is a well run Danish company and its activities are a good match for DSV. By merging the project transport activities and competencies of DSV and Seatainers Group we will create a very powerful player in a market with good growth potential in the coming years."

Photo: Baltship, a Seatainers subsidiary, handles another tricky project forwarding consignment.