NTG NORDIC TRANSPORT GROUP A/S 1 December 2020
NTG Polar Road Oy acquires TB International Transport Ltd. Oy NTG Polar Road Oy ('NTG Polar Road'), a Finnish partner-driven subsidiary of NTG Nordic Transport Group A/S ('NTG'), has entered into a share purchase agreement regarding the acquisition of 100% of the shares in TB International Transport Ltd. Oy ('TB International').TB International was founded in 2009 in Vantaa, Finland and represents the freight forwarding activities of Trans Bros Group Oy ('Trans Bros Group'), a logistics group focusing on domestic and international transportation services. TB International specialises in cross-border transportation between Finland and Western Europe, most notably Germany, the Netherlands, and France. In the financial year ending 31 March 2020, TB International generated a revenue of EUR 16.2 million and an EBIT of EUR 1.2 million.
NTG Polar Road, which specialises in traffics between Finland and Eastern Europe, became a subsidiary of NTG in 2017 in connection with NTG's acquisition of Polar Logistics. The acquisition of TB International adds strong sales and operational capabilities on Western European traffics to NTG Polar Road's existing setup and enables economies of scale, particularly within procurement.
The acquisition encompasses 12 employees, including the existing management and selling shareholders who will continue as Sales Director and Head of Operations for the combined Western European traffics.
'I am happy to welcome yet another company to NTG. With the acquisition of TB International, we are adding scale and skills to our Finnish setup for the second time since NTG entered the Finnish market in 2015. The acquisition significantly strengthens our capabilities on the Western European trade lanes and complements our existing setup very well', says Jesper Petersen, CEO of Road & Logistics at NTG.
Signing and closing of the transaction occurred today, 1 December 2020, and NTG Polar Road and TB International are expected to merge during the first half of 2021. A transitional services agreement has been entered into with the Trans Bros Group for up to six months to ensure a smooth transition process. Upon completion of the merger, the combined operations will continue in the existing Finnish subsidiary, NTG Polar Road.
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NTG - Nordic Transport Group A/S published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 19:26:06 UTC
