port operator DP World is to acquire Unifeeder Group, the largest Pan-European
feeder and shortsea operator.
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.
acquisition is subject to regulatory approvals and expected to be earnings
accretive in the first full year after completion. It will be financed from
existing balance sheet resources and is expected to close in 4Q 2018 says a DP
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.
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.
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
“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,
“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.
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.