Maersk claims West Med terminal congestion easing
Pressure seems to be easing on West Mediterranean ports after a difficult few weeks, when ...
PRESS RELEASE
A.P. Moller – Maersk to acquire the warehousing and distribution company Performance Team
A.P. Moller – Maersk is further strengthening its logistics and services offering by adding Performance Team’s premium capabilities within warehouse fulfillment services, e-commerce and inland transport.
“With this acquisition we invest in premium operational capabilities to significantly boost our existing Warehousing & Distribution offering. This will strengthen our ability to deliver products and solutions that meet our customers’ end-to-end supply chain needs. With its strong platform, Performance Team is a good match for A.P. Moller – Maersk as they complement our current Warehousing & Distribution proposition to customers in North America and will enable future growth,” said Vincent Clerc, CEO of Ocean & Logistics at A.P. Moller – Maersk.
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The value of the transaction is USD 545m (EV) including IFRS 16 lease liabilities of around USD225m. Performance Team 2019 EBITDA adjusted for IFRS 16 effects is estimated at USD 90m. The acquisition is subject to regulatory approvals and the transaction is expected to close 1 April 2020. Until obtaining required regulatory approvals and closing of transaction, Maersk and Performance Team remain two separate companies and thus will do their business as usual.
To read the full release, please click here.
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