Against the odds: DSV Panalpina – 'no mercy'
Prepare for another bang.
DSV won’t be alone on the acquisition trail this year, as SEKO Logistics this afternoon said it would announce a major expansion in coming months.
It was ready to grow its footprint in 2018, it said, both through recruiting new partners and strategic acquisitions.
Due to be formally announced at the end of this quarter, SEKO will see a “watershed expansion … in terms of global reach”, said the company.
To ‘spearhead’ this growth, SEKO said it would make some management changes, with William Wascher to take over as chairman and president James Gagne will also assume the role of CEO.
The company said organic growth alone was no longer sufficient.
“We are in the most exciting period for SEKO in its 40-plus-year history, with new opportunities being presented to us around the world by customers, partners and suppliers,” said Mr Gagne.
“We are continuing to focus on organic growth, but this alone is not going to be fast enough to satisfy our ambitions in the coming years.”
Mr Wascher added: “We’re ready to grow at an even faster pace as our upcoming news will demonstrate.”
But he said the company would also look at other ways of expanding.
“We’re evaluating tuck-in acquisitions, partners and ‘out of the box’ expansion opportunities,” he said.
“This includes engaging with small independent forwarders that want to hear about the value of joining our network, as well as technology companies in the logistics space that want to join forces.
“We may partner, we may buy. The first thing for other companies to realise is that we’re ready to listen – and able to demonstrate what coming together with SEKO can do for them and their customers.”