Tuesday, March 5, 2019

Seasoned US Logistics Firm Snaps Up Freight Forwarding and Customs Agency Outfit

Latest in Long Line of Acquisitions
Shipping News Feature
US – SPAIN – Long established third party logistics provider, CH Robinson has acquired international freight forwarder and customs agency, the Spanish based Space Cargo Group, for approximately €42 million (around $48 million) in cash. The CH Robinson empire, begun in 1905 as a small procurement company, took off into road haulage in 1956 and now employs over 15,000 staff around the globe. The latest purchase is the latest in a series of such acquisitions and Mike Short, President of CH Robinson's Global Forwarding division, commented:

“We are pleased to welcome Space Cargo to the CH Robinson family. Space Cargo has a proven track record of success, and we will benefit from the company’s outstanding presence in Spain and Colombia. Space Cargo has a strong local reputation for world-class freight forwarding and a talented and committed group of individuals who will be right at home among our team. We will work hard to successfully integrate the valued employees, customers and suppliers of Space Cargo.”

Space Cargo provides ocean and air freight forwarding services, in addition to providing customs brokerage and other logistics services, to over 2,500 active customers. Headquartered in Madrid, Spain, Space Cargo has approximately 170 employees and has seven offices in Spain and one office in Colombia. For the fiscal year ending December 31, 2018, Space Cargo had approximately €74 million (approximately $84 million) in gross revenues. Jordi Pellice, Chief Executive Officer of Space Cargo, said:

“We are excited to join CH Robinson, the best third-party logistics provider, and build on the business we have done together for more than 10 years. We believe this partnership will position us to better serve our customers and promote continued growth by leveraging CH Robinson’s worldwide network and diverse service offerings.”

CH Robinson says it will integrate Space Cargo into its Global Forwarding division and single global technology platform, Navisphere®, the technology platform which it launched in 2012.