As it looks for buyers, Scan Global Logistics delivers solid Q1
While at the end of last month Denmark’s Scan Global Logistics (SGL) confirmed that its shareholders ...
Scan Global Logistics (SGL) is following up its growth pledge with an acquisition that will give it a presence in the UK.
From today, Horizon International Cargo, a “traditional air and ocean forwarder”, is part of SGL and, it said, was “a strategic move pivotal to the company’s long-term strategy and the continued development and expansion of the European part of the organisation”.
Horizon saw a 45% rise in turnover between 2019 and 2020, to £47.7m ($64.5m), resulting in a profit for FY20 up nearly 50%, to £3.37m.
It focuses on sectors including automotive, e-commerce, hi-tech, pharmaceuticals and retail, with 150 staff in five countries.
SGL has made no secret of its acquisitive growth strategy. Last month, it bought New Zealand’s Orbis Global Logistics, Spain’s Grupo Contenosa was acquired in April and US operator Werner Global Logistics in January. SGL has also added offices in France and South Africa this year.
Last year, SGL merged with US-based TransGroup Global and purchased PostNord’s Swedish air and ocean activities.
SGL was itself acquired in 2016 by AEA Investors, a US private equity firm.
SGL said Horizon would allow it “to pursue new business opportunities and offer notable commercial synergies to their customers worldwide through an improved position in key tradelanes”.
It added: “Three common denominators will strengthen the logistics offers of the expanded organisation – strength in air freight, customer-centricity and matching cultural identity.”
Nigel Davies, Horizon chairman, said: “From the outset, the cultural fit between our two companies was very evident. This, combined with the synergies of our respective operational footprints, makes a perfect platform to take advantage of the exciting opportunities ahead. We very much look forward to our future with SGL, remaining every bit as focused on providing customers with the dedicated service, care, and flexibility they have come to expect from Horizon over the years.”
Ragnar Dalen, SGL’s EVP corporate development, added: “The new locations are important pillars in our strategic growth plans, not only in the UK, but also in the rest of the world. Horizon’s offices in Japan, the Netherlands, Spain, and the US will further strengthen our setups and help us reach our goals in these countries.”