Acquisitions – Page 18
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NewsSovereign Speed enters airfreight market with Businesswings acquisition
Time-sensitive trucking firm Sovereign Speed has expanded into the airfreight market thanks to its acquisition of German Kassel-based airline Businesswings.The acquisition means that Sovereign Group is now able to offer its customers all forms of urgent transport, from direct journeys to overnight transport, via its own express network or aircraft ...
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Speculation over DSV Panalpina’s next takeover target
Investment bank Berenberg has taken a look at suitable takeover targets for fast growing forwarder DSV Panalpina.Although the Copenhagen-headquartered company is still busy digesting its largest acquisition to date, Panalpina, it has already indicated its appetite for further acquisitions, in particular of companies with a strong road transport business.In a ...
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NewsAvia Solutions completes acquisition of Chapman Freeborn
Avia Solutions Group has completed the acquisition of charter broker Chapman Freeborn.The deal was first announced in June with the companies stating at the time that they expected the takeover to be completed in the third quarter. Terms have not been disclosed.As part of the Avia Solutions Group, Chapman Freeborn ...
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DSV Panalpina warns of job cuts during restructure
DSV Panalpina Group has announced the possibility of job cuts as it relocates the former Panalpina headquarters (in Basel) to its headquarters in Denmark.The company said it is finalising its analysis of the impact on corporate functions at the former Panalpina headquarters but warned the relocation could result in up ...
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NewsNo rest for DSV Panalpina as it plans for more acquisitions
DSV Panalpina is planning to once again hit the acquisition trail in 12-18 months time, with “larger rather than smaller” companies targeted, says its new chairman Thomas Plenborg.He specifies that “additions within road are likely to be on the radar next” especially when the road division’s new transport management system ...
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ECS Group expands Australasia presence with Wexco acquisition
Australia and New Zealand-based Wexco (not to be confused with Wexco Cargo GSSA) has been acquired by the ECS Group as it looks to expand its presence in the region."Through this acquisition, ECS Group is developing its presence all around the world and has reaffirmed its leadership position," ECS said."The ...
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NewsLarsen steps down as DSV chairman
Kurt K. Larsen has today resigned as chairman and board member of fast-growing Danish logistics giant DSV, having been a pivotal figure in the development of the acquisitive forwarder which recently completed its merger with Panalpina.Thomas Plenborg, the newly-elected chairman of the DSV board, said: "Throughout 30 years, Kurt K. ...
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FedEx strengthens Latin America operations with Cargex acquisition
FexEx has announced that it will acquire Colombian freight forwarder Cargex.Cargex, a specialist in the transportation of perishable goods, has been established for more than 25 years. Headquartered in Bogotá, Colombia, the company operates in Bogotá, Medellin, Cartagena, Buenaventura and Santa Marta.The deal, which expected to close later this year, ...
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NewsDSV Panalpina carries out first shipment through its combined network
DSV Panalpina has carried out its first shipments as one company, following their merger (completed on August 19) which created the second-largest airfreight forwarder in the world.Last Thursday, DSV Panalpina's successful shipment of thurst reverser engine parts from Huntsville, US, to Luxembourg, marked the first time that the newly-formed company ...
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Panalpina announces changes to board of directors
Panalpina has made changes to its board of directors following its merger with DSV.The company said that it had decided to downsize its executive board by eliminating the positions of chief commercial officer, chief legal officer, chief information officer, executive vice president, airfreight and executive vice president, ocean freight.Lucas Kuehner, ...
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DSV-Panalpina merger creates world's second largest airfreight forwarder
DSV has announced that its acquisition of Panalpina will finally be completed today in a deal worth $5.5bn.The combined company will be recognised as DSV Panalpina and the merger will result in the creation of the second-largest airfreight provider in the world - DHL currently leads the pack.Panalpina is a ...
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Swissport targets further acquisitions after refinancing
Ground handler Swissport said it will target further acquisitions following the refinancing of debt by the group.Swissport Group today announced that successfully closed and settled its debt refinancing.The refinancing includes €410m of senior secured notes, €250m of senior notes and a €850m term loan B facility.Swissport will use the net ...
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Menzies Aviation expands into Canada with GTO Global Logistics deal
Menzies Aviation has acquired Canada-based GTO Global Logistics as the wholesale airfreight provider gains its first foothold in Canada.GTO provides airfreight, ocean less-than-container-load, domestic/cross Border road services, storage and customs brokerage at airports and ports in Canada.As part of the deal, Menzies will acquire a customs bonded warehouse of 10,000 ...
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CSafe increases European presence with new Amsterdam service centre
CSafe Global has opened a new service centre in Hoofddorp, the Netherlands, to increase its operational capabilities in Europe.At the centre, which is 7.8km away from Amsterdam's Schiphol airport, CSafe RKN and CSafe RAP active temperature-controlled containers are serviced to ensure that they are fit for purpose and can safely ...
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DSV reveals air freight performance for the half year
DSV's air freight volumes have slightly dipped this half-year, with amounts (in tonnes) increasing by 1% for the first half of 2019, but decreasing by 2% in the second quarter of the year. The decline is a result of trends in the market, as well as the termination of a ...
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Kuehne+Nagel expands perishables network with acquisition of WWP Canada
Kuehne+Nagel (K+N) has acquired Worldwide Perishable Canada (WWP), which further expands the perishable division of the business.Founded in 1999 and headquartered in Nova Scotia, Canada, WWP is a leading freight forwarder that is particularly involved in the exporting of tuna.K+N already has a strong presence on the east coast of ...
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Air Canada completes Transat acquisition
Air Canada and Transat announced today that they have concluded a definitive Arrangement Agreement that provides for Air Canada's acquisition of all issued and outstanding shares of Transat and its combination with Air Canada.Under the terms of the binding agreement, unanimously approved by the Board of Directors of Transat, Air ...
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NewsChapman Freeborn to target growth following acquisition by Avia Solutions
Aviation group Avia Solutions Group has entered into an agreement to acquire UK-headquartered Chapman Freeborn Group as the broker aims to accelerate growth.Terms of the deal, signed on June 14, were not disclosed and the transaction is expected to close in the third quarter of the year.Chapman Freeborn chief executive ...
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Combined DSV-Panalpina to take 6% of forwarding market
The combined DSV-Panalpina business will hold a market share of 6% when the deal is completed, according to a report by consultant Transport Intelligence (Ti)The Global Freight Forwarding Report 2019 described DSV's takeover of Panalpina as the "most high-profile development in the forwarding sector in the past twelve months".The merging ...
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NewsAir Canada 'finalising' binding agreement on Transat deal
Air Canada has confirmed that it is “in the process of finalising its binding agreement” to acquire Transat AT Inc, owner of Canadian carrier Air Transat.Air Canada announced on May 16 this year that it had entered into an exclusive agreement with Transat regarding the acquisition, though the agreement remained ...