S&H's Hans Elshout and Peter van der Maas, DSV, sign the agreement

DSV has expanded again by acquiring a Dutch e-commerce specialist.

It announced on Tuesday it had bought multichannel fulfilment specialist S&H, a company with some 120 employees.

It was likely to be priced at between $50m and $60m, based on The Loadstar’s calculations, which equates to up to 0.4% of DSV’s current market cap – so not exactly the big acquisition the market has been waiting for from DSV.

S&H will retain its independence as a standalone company, but under the name DSV Multi-channel Fulfilment.

It will be headed by Peter van der Mass, currently executive vice president of DSV Solutions, as S&H CEO and founder Hans Elshout steps down, although he will continue to advise DSV.

DSV said the acquisition would enable it to offer wider e-fulfilment services.

“We have been on the lookout for a suitable add-on acquisition to boost our capabilities within e-commerce, specifically multi-channel fulfilment,” said DSV Solutions CEO Brian Ejsing. “S&H is a great fit for DSV.”

Mr van der Maas added: “S&H has a unique value proposition supported by a sophisticated and flexible IT system making multi-channel fulfilment simple.”

In other forwarding news, the Investment Corporation of Dubai has launched ISS Global Forwarding, a logistics company borne out of Inchcape Shipping Services.

Headquartered at the Dubai Airport Free Zone, it will focus on freight forwarding, contract logistics and project/oil and gas logistics, and be present initially in 18 countries, mainly in the Middle East, Africa and Europe. However, it plans to expand into Asia Pacific, China and Singapore.

Industry veteran Enver Moretti, formerly EMEA CEO of DHL Global Forwarding and president of DHL subsidiary Danzas, is to lead the new company.

“We are establishing ourselves as a regional powerhouse and our aspiration is to be recognised within the supply chain logistics industry as a customer-centric organisation,” he said.

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  • Aaron Smith

    September 04, 2018 at 4:29 pm

    Moving up in the world. A company that aspires to be the best, it’s no surprise they will want to expand.

  • A.Kout

    September 05, 2018 at 4:04 pm

    Are we used to such M*a deals by DSV- no for sure not -sizewise.
    Iits even time now for a DSV to bake small rolls. Is this a learning-process they
    have to go through we think yes.
    Honestly speaking this is not what we expect from a DSV and we are sure
    DSV investors too, they will ask when the 3.quartal results are published by video stream or whatever is this everything on M&A???
    kindest regards