M&A radar: Clipper Logistics – pity you wouldn't listen. What now?
For potential acquirers, the one that got away might be even more appealing.
DSV Panalpina returned to the acquisition trail today, announcing it would acquire South African courier Globeflight Worldwide Express.
The purchase includes all Globeflight’s operations in South Africa and Swaziland and will boost DSV Panalpina’s presence in the small express parcel courier sector, according to Keith Pienaar, CEO of DSV South Africa
“It will leverage the investment DSV has made in infrastructure and systems, so we’re looking very much forward to welcoming Globeflight to DSV Panalpina.”
“We are culturally well suited, in that we are both performance-driven and customer-centric in our approach and the client fit is complementary and provides room to grow.
“DSV’s courier business typically centres on larger clients, while Globeflight’s strength is in the express and small parcel sector with a particular emphasis in the critical small-parcel B2B market,” he added.
Globeflight has more than 8,000 clients and delivers a wide range of items, from educational supplies to IT and medical equipment. It operates a fleet of 420 vehicles, shipping nearly 330,000 deliveries a month.
Eddie Meyer, founder and CEO, said: “We are extremely pleased that DSV Panalpina recognises our strengths and abilities. The envisioned synergy between DSV Panalpina and our award-winning team will create a dynamic bouquet of service offerings to logistics consumers.”
The transaction is expected to close in about three months, subject to regulatory approvals. Until then, Globeflight and DSV will conduct their businesses independently.
Meanwhile, DSV’s three South African divisions – air sea freight forwarding, road freight and contract logistics – are set to move into the new flagship DSV Park Gauteng, near OR Tambo International Airport in South Africa, in the new year.