Scan Global Logistics on a roll with Swiss acquisition
14 / 09 / 2023
Photo: Scan Global Logistics
Scan Global Logistics (SGL) has entered the Swiss market for the first time through the purchase of Belglobe.
Fast-growing SGL said Belglobe had three decades of experience and a “strong position” in the temperature-controlled pharma healthcare and luxury consumables industries.
“SGL will gain immediate proximity to multinational companies’ central procurement and supply chain management,” the forwarder said.
“Another advantage is Switzerland’s proximity to major European markets such as Germany, France, Italy, and Austria, enabling efficient distribution of goods throughout the continent.”
In addition, Belglobe holds a strong position in the Latin American market.
Lars Syberg chief executive Europe, Middle East and Africa, excluding the Nordics, said: “It was a natural step to enter the Swiss market due to its strategic importance and mix of domestic and multinational customers who have placed their centralised procurement in the country.
“Also, since Switzerland is not part of the EU, Belglobe’s knowledge and ability to navigate the complex regulatory environment will be instrumental in achieving our ambitious plans for Switzerland.”
Stefan Zangger, owner of Belglobe, added: “Being part of a bigger company with global opportunities will benefit both our existing and potential customers.”
SGL has grown rapidly in recent years, increasing its presence from 17 to 48 countries since 2016.
The company is targeting a local representation in 60 countries and a presence in 25 of the world’s largest economies.
In February, private equity fund CVC Capital Partners Fund VIII (CVC) purchased a majority stake in the business from AEA Investors Small Business Private Equity (AEA).
SGL said that the investment would enable it to continue to grow through acquisitions, it has purchased more than 30 companies since 2017.
Companies acquired by SGL last year include bison Services, B.C. Dispatch, D&W, Trust Forwarding, SAS Cargo Sweden, SAS Cargo Norway, AFL Logistics – American Freight Line Southeast, Sea-Air Logistics, Gelders Forwarding and Advection Logistics, including one minority investment.