Acquisition of Orbis Global Logistics and Horizon International Group
Today, SGL International A/S has, through its wholly-owned subsidiary, Scan Global Logistics A/S, signed the acquisition of Orbis Global Logistics, a New Zealand freight forwarding company, and Horizon International Group, a British freight forwarding company.
With the acquisition of Orbis Global Logistics, the Group will strengthen its position, providing a solid platform in New Zealand, and strategically complement our strong growth in the Pacific Region. Orbis Global Logistics operates as a freight forwarding company primarily focused on air and ocean freight of import and export to and from New Zealand, and through its headquarter in Auckland and two other branches, Orbis Global Logisctic generates yearly revenue of above NZD 35 million.
With the acquisition of Horizon International Group, the Group will gain access to profitable niche markets and increase our presence in current SGL offerings. It enables us to establish our strategic presence in England, and give us a strategic platform to scale the business, which will enable us to expand our global presence to our customers’ benefit. The Group will be able to serve the existing customers of Horizon International Group gain access to a full-fledged international solution including added expertise, technology, network, and e-commerce platform. Horizon International Group operations are focused on air and ocean activities, combined with road and warehouse, and through its geopragical spead in England, USA, The Netherlands, Spain and Japan, Horizon International Group generates yearly revenue of GBP 115 million.
The acquisitions of Orbis Global Logistics and Horizon International Group are financed through successful placement of new subsequent bond issue under its existing senior secured fixed rate bonds.
Most importantly for both Orbis Global Logistics and Horizon International Group, it will bring additional human capital with comprehensive industry knowledge and niche experience; people with a perfect match to SGL DNA and culture.
For further information, please contact: Claes Brønsgaard Pedersen, Global CFO, ir@scangl.com | (+45) 32 48 00 00
This information is information that SGL International A/S is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the contact person set out above on 30 September 2021, at 18.00 CET.
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