Scan Global Logistics to be acquired by private equity fund AEA Investors
BWB Partners and all other shareholders of international freight forwarder Scan Global Logistics today entered into an agreement to sell their shares to the well reputed private equity group, AEA Investors. Closing is expected to take place in July 2016, subject to approval by the competition authorities.
AEA Investors acquires Scan Global Logistics (SGL) after a competitive process involving several industrial buyers. The management of SGL along with SGL’s strategic partner in the USA, TransGroup WorldWide Logistics, will reinvest alongside AEA Investors to become significant shareholders in SGL.
”We are very pleased to welcome a new long-term, dedicated shareholder group with global reach and profound insight into the logistics sector. This enables us to continue the growth path we have experienced during the past several years,” says Jesper Nielsen, Group CEO of SGL.
”We are happy on behalf of SGL employees, management and customers that we have found a new owner who, just as we, strongly believes in the company and is prepared to continue investing in its future. SGL has been a sound investment for BWB and the company’s valuation is a strong testimony to management’s and employees’ successful efforts to multiply revenue and earnings during our ownership,” says Esben Bay Jørgensen, Partner at BWB Partners.
Scan Global Logistics is a merger of Scanam Transport (acquired by BWB Partners in 2006) and Mahé Freight (2007 merger) as well as additional minor add-on investments. Over this 10-year period, the company seven-fold increased revenues and six-fold increased EBITDA. In 2015, SGL recorded revenue of DKK 3.2 billion and operating profit before amortisation and depreciation (EBITDA) of DKK 109 million before special items.
The sellers have been advised by Rothschild, AT Kearney, Accura and EY.