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TPG acquires Wilson Logistics
TPG NV announced today the acquisition of the Swedish-based global freight forwarding company Wilson Logistics Group from Nordic Capital, for a purchase price of approximately SEK 2.35 billion (€257m). (6/11/2004)
This acquisition is subject to the approval by the relevant competition authorities, and is expected to close in the third quarter of this year.
With revenues of approximately €714 million in 2003 and more than 2,000 employees, Wilson has a strong global freight forwarding operation in 28 countries.
While the Wilson freight forwarding business is asset-light, it has a history of strong growth and good prospects. By adding a dedicated unit in freight forwarding, TPG is expected to grow faster in its key sectors and markets in both freight forwarding and logistics.
Wilson will form the platform for freight forwarding within TPG’s TNT Logistics. The ongoing commitment of Wilson’s senior management has been secured. Management will work closely with TNT to integrate this new freight forwarding capability into its total service offering.
The move reinforces TNT’s firm foothold in key sectors such as automotive, electronics, hi tech and FMCG. The acquisition enables TNT to offer its existing contract logistics clients the full array of supply chain management services, including airfreight, sea freight, and a combination of both.
Peter Bakker, CEO of TPG, says: “This acquisition is TPG’s first major step in extending our capabilities into the global freight forwarding industry.”
Henrik von Sydow, CEO of Wilson Logistics Group adds: “We believe that the strength in leverage, geographical reach and service scope that TNT brings, in particular through its Logistics and Express divisions, adds to the competitive edge of Wilson. This will enable us to fast track our growth, moving us to the next level.”
www.eyefortransport.com is a FREE information portal for the freight transportation industry loaded with case studies, white papers, Q&A with industry leaders, features and editorials and latest freight news updated daily. We also produce global events focusing on how new technologies change the freight industry. For more information go here: www.eyefortransport.com/upcomingevents.shtml
_______________________________________________________________________
TPG acquires Wilson Logistics
TPG NV announced today the acquisition of the Swedish-based global freight forwarding company Wilson Logistics Group from Nordic Capital, for a purchase price of approximately SEK 2.35 billion (€257m). (6/11/2004)
This acquisition is subject to the approval by the relevant competition authorities, and is expected to close in the third quarter of this year.
With revenues of approximately €714 million in 2003 and more than 2,000 employees, Wilson has a strong global freight forwarding operation in 28 countries.
While the Wilson freight forwarding business is asset-light, it has a history of strong growth and good prospects. By adding a dedicated unit in freight forwarding, TPG is expected to grow faster in its key sectors and markets in both freight forwarding and logistics.
Wilson will form the platform for freight forwarding within TPG’s TNT Logistics. The ongoing commitment of Wilson’s senior management has been secured. Management will work closely with TNT to integrate this new freight forwarding capability into its total service offering.
The move reinforces TNT’s firm foothold in key sectors such as automotive, electronics, hi tech and FMCG. The acquisition enables TNT to offer its existing contract logistics clients the full array of supply chain management services, including airfreight, sea freight, and a combination of both.
Peter Bakker, CEO of TPG, says: “This acquisition is TPG’s first major step in extending our capabilities into the global freight forwarding industry.”
Henrik von Sydow, CEO of Wilson Logistics Group adds: “We believe that the strength in leverage, geographical reach and service scope that TNT brings, in particular through its Logistics and Express divisions, adds to the competitive edge of Wilson. This will enable us to fast track our growth, moving us to the next level.”
www.eyefortransport.com is a FREE information portal for the freight transportation industry loaded with case studies, white papers, Q&A with industry leaders, features and editorials and latest freight news updated daily. We also produce global events focusing on how new technologies change the freight industry. For more information go here: www.eyefortransport.com/upcomingevents.shtml