Maersk opens its war chest for project firm Martin Bencher
05 / 08 / 2022
By Damian Brett
Cash-rich shipping giant AP Moller Maersk has announced the planned purchase of project logistics firm Martin Bencher as part of efforts to expand its supply chain offering.
Maersk said the deal has an enterprise value of $61m and will allow the company to launch Maersk Project Logistics.
Martin Bencher Group is headquartered in Aarhus, Denmark and has 31 offices in 23 countries, with almost 170 employees.
Maersk regional managing director for Europe Karsten Kildahl said: “Martin Bencher will be an excellent fit to Maersk and our integrator strategy, strengthening our ability to provide project logistics services to our global clients.
“When Martin Bencher joins the Maersk family, we will be able to deliver project logistics services with a high degree of reliability, a proven track-record, and a strong focus on Health, Safety, Security and Environment (HSSE).
“In addition to supporting our existing customers’ project logistics needs, we will also be able to provide a more comprehensive offering to a wide array of industries,” says Karsten Kildahl, regional managing director in Europe of Maersk.”
Maersk already has niche competencies based mainly in Europe and North America. However, in order to expand the offering, existing activities will be consolidated into a global product offering.
“Together with the proposed acquisition of Martin Bencher, this will enable Maersk to significantly accelerate its project logistics capabilities and develop an unparalleled integrated offering to serve existing and future customers, also within new industries,” Maersk said.
“A strong project logistics solution offering is a key element for clients with logistics requirements for large scale projects across several industry segments, including renewable energy, pulp and paper, power generation, mining, automotive, aid and relief, government contracted logistics and industrial manufacturing.”
Until obtaining all required regulatory approvals and closing of the transaction, Maersk and Martin Bencher Group remain two separate companies and thus will run their businesses independently as usual.
Earlier this week, Maersk reported a half-year net profit of $15.4bn as transport rates continued to surge. It also revealed it had built up $19bn that could be used for acquisitions.
Maersk also recently announced that Maersk Air Cargo’s three newbuild Boeing B767-300F freighters will be operated by Miami-headquartered cargo airline Amerijet on a US-China route from this autumn.