DP
World Buys Shortsea Operator Unifeeder
Image Courtesy:
Unifeeder
Dubai-based port operator DP World is to acquire Unifeeder
Group, the largest Pan-European feeder and shortsea operator.
On August 7, DP World signed the agreement to acquire 100%
of Unifeeder for EUR 660 million (around USD 763.6 million) from the company’s
majority owner, Nordic Capital Fund VIII, and certain minority shareholders.
As informed, the acquisition is subject to regulatory
approvals and is expected to close in Q4 2018.
Unifeeder
will continue to operate on a fully independent,
multi-user basis under its current existing management, and expects to see
additional growth as a consequence of the transaction, according to the
company.
With the acquisition, DP World expects to enhance presence
in the global supply chain and broaden its product offering with a view to
ultimately reduce inefficiencies and improve the competitiveness of global trade.
Commenting on the acquisition, Sultan Ahmed Bin Sulayem, DP World’s Group Chairman and CEO, said:“We are delighted to add the Unifeeder brand
under the DP World umbrella, which supports our strategy to grow in
complementary sectors, strengthen our product offering and play a wider role in
the global supply chain as a trade enabler.”
“The ever-growing deployment of ultra-large container
vessels has made high-quality connectivity from hub terminals crucial for our
customers and Unifeeder is a best-in-class logistics provider in this space
with a strong reputation in Europe. Our aim is to leverage on the
in-house expertise of Unifeeder and to accelerate growth in this scalable
platform to deliver value for all stakeholders,” Bin Sulayem added.
“We are excited to join the DP World Group as we believe
that Unifeeder will benefit from the Group’s significant expertise in the wider
supply chain and excellent relationships with shipping lines and end cargo owners,”
Jesper Kristensen, CEO of Unifeeder A/S,
said.
“We have enjoyed
great success over the last five years under Nordic Capital’s ownership, and we
believe that the Unifeeder brand within the DP World Group has the opportunity
to accelerate growth, expand further and take the business to the next level,”
Kristensen continued.
Based in Aarhus, Denmark, Unifeeder operates approximately
60 short-term chartered vessels, carrying around 3.2 million TEUs and
performing some 12,000 port calls annually. The company provides transport
solutions for international container shipping lines between international and
regional ports and shortsea services to cargo owners with fully multimodal
door-to-door solutions, combining seaborne transportation with road and/or rail.
Posted on August 7, 2018 with tags acquisition, DP World,
Shortsea, Unifeeder.
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