DSV – two tuck-ins and one 'ego play'
Looking past the side dishes
Good news for Danish 3PL DSV and its investors – apparently the 100 largest customers of UTi Worldwide, a US forwarder it bought for $1.35bn earlier this year, have committed to keeping their business with the newly enlarged company. With enormous cost synergies needing to be pushed through to justify the acquisition price tag, customer retention – so often the Achilles heel of what initially seem like tantalising takeover deals – was always going to be a huge priority. And chief executive Jens Andersen told Bloomberg that it could start looking for its next purchase as soon as next year: “We could possibly be ready for a new acquisition toward the end of 2017, but we need to be done with the integration of UTi first.”
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