The acquisition of Limerick-based Eastway, with operations across 130 countries, supports K+N's bolt-on strategy in the fast-growing aerospace industry
Kuehne+Nagel (K+N) will expand in the global aerospace logistics market with the planned acquisition of Ireland-based Eastway Global Forwarding Ltd.
Limerick-headquartered and family-owned logistics provider Eastway has a network spanning 130 countries globally. The company offers time critical aircraft-on-ground (AOG) services, aircraft engine logistics, aviation logistics & warehousing, and customs brokerage services.
It also provides full lifecycle services for the aviation leasing industry. The aviation lessor industry owns over 50% of the global aviation fleet and is expected to grow in value from $187.1bn in 2024 to $565.1bn by 2034, at a Compound Annual Growth Rate (CAGR) of 11.8%, according to CAPA, Global Market Insights, said K+N.
Completion of the acquisition is expected by the end of the year, after which Eastway will become a fully-owned subsidiary of K+N.
“Eastway is a good fit for Kuehne+Nagel. The company brings with it a proven track record of success and a strong customer base,” said Yngve Ruud, member of the management board, responsible for air logistics at K+N.
“The acquisition supports our targeted bolt-on acquisition strategy by strengthening our aerospace logistics offering globally and accelerating our growth ambitions in the fast-developing aerospace industry.”
Frank Junior McNamara, managing director of Eastway, added: “By partnering with the world’s leading logistics company, we are taking our family-owned business into an exciting new chapter.
"Through combining our deep expertise in aerospace logistics with the global reach and capabilities of Kuehne+Nagel, we can extend our footprint and deliver world-class supply chain solutions to clients across the aerospace industry.
“This partnership creates new opportunities for Eastway to enhance our service offering and explore fresh avenues for growth with our international customer base. It also opens doors for professional development within our exceptional team, the heart and driving force behind Eastway’s continued success.”
The acquisition is subject to regulatory approvals and customary closing conditions.
