AEA Investors buys Denmark-based Scan Global Logistics from BWB Partners
BWB Partners and all other shareholders of international freight forwarder Scan Global Logistics have 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.
About Scan Global Logistics
Scan Global Logistics is a Nordic based full-service global freight forwarding provider with nearly 800 employees working out of 42 offices in 19 countries, specialized in complex logistics solutions. SGL offers customers a wide range of global transportation and logistics supply chain solutions with a complete coverage on air, sea and overland transportation.
About BWB Partners
BWB Partners is an independent owner-led Danish investment firm investing in small and medium-size companies with a strong growth potential. The BWB Partners funds own 13 industrial and service-sector companies. BWB Partners focuses on boosting companies’ value creation by promoting organic growth, undertaking strategic acquisitions, developing the management structure and pursuing operational improvements in close collaboration with management teams and co-investors.
Founded in USA by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. in 1968, AEA is a is a leading global private investment firm. With over 100 employees, AEA operates across five offices on three continents. AEA manages approximately USD 10 billion of invested and committed capital dedicated to three investment strategies: Buyouts of middle-market companies; buyouts of companies at the smaller end of the middle-market as well as mezzanine and senior debt investments.
Source: AEA Press Release