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Maersk acquiring KGH Customs Services in $279m deal

Maersk acquiring KGH Customs Services in $279m deal
AP Moller – Maersk is acquiring Swedish trade and customs management specialist KGH Customs Services.

The Danish shipping company is acquiring KGH from private equity firm Bridgepoint Development Capital for SEK2.6bn ($279m) in cash and on a debt free basis. The price excludes an earn-out component contingent on future Brexit performance.

The Sweden-based specialist provides trade and customs management services in Europe. KGH has 775 employees and handles 1.98m customs clearances annually.

“There are no end-to-end solutions without customs clearance. 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,” said Vincent Clerc, ceo of Ocean & Logistics at AP Moller – Maersk.

“We achieve all this in one go instead of having to build our expertise through multiple acquisitions.”

Lars Börjesson, ceo of KGH, said: “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.”

 

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