Maersk has announced that it has reached an agreement with Bridgepoint Development Capital to acquire KGH Customs Services (KGH), a Sweden-based specialist in trade and customs management services in Europe.
According tot he logistics giant, the move will further enhance its capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers.
With its specialised expertise across freight modes and deep knowledge in selected industries, combined with innovative technology, KGH will "significantly improve" Maersk’s overall offering within customs services.
KGH has a strategy focused on digital solutions and technology as an enabler for a more seamless customer experience, which also corresponds with Maersk’s own digital transformation journey.
Vincent Clerc, chief executive of ocean and logistics at AP Moller–Maersk, said that he saw KGH as a "perfect fit" to Maersk offerings within logistics and services as well as another key building block in its strategic ambitions.
“There are no end-to-end solutions without customs clearance." he said. "With KGH, we will not only be able to strengthen our capabilities within customs services and related consultancy, but also reach more of our customers in Europe through a larger geographical footprint and digital solutions that will enhance our ability to meet our customers´ end-to-end supply chain needs. We achieve all this in one go instead of having to build our expertise through multiple acquisitions.”
Maersk will acquire KGH for a consideration of SEK2.6B (US$279m) on a cash and debt free basis, with the closing of the acquisition is subject to customary regulatory approvals.
“With Maersk, we will have a long-term home with a company that share our values," noted Lars Börjesson, chief executive of KGH Customs Services. "By joining forces, we will be able to continue to build on the great success our teams have achieved, and at the same time play a key role in a combined entity providing a range of different services within the transportation and logistics industry.
"Customs services is an essential part of our customers’ end-to-end needs which we in unison with Maersk will be able to provide with seamlessness and global reach,” he added.