NTG Nordic Transport A/S : acquires a majority stake in RTC Transport A/S

NTG Nordic Transport Group A/S ("NTG") has signed an agreement to acquire 75% of the shares in RTC Transport A/S ("RTC"), a Danish company specialising in home deliveries of interior products.

RTC was founded in 2006 in Brøndby, Denmark, and specialises in home deliveries of furniture and domestic appliances as well as value added services including carry-ins, installations, and return handling. RTC has a strong presence in the Danish market, from where it also serves customers with home deliveries in the southern part of Sweden.

The complementary services of NTG and RTC strengthen the value proposition of both companies to existing and new customers, and support NTG's ambitions of becoming a leading end-to-end furniture logistics provider. Following completion of the transaction, NTG will support RTC in further expanding its operations by replicating the Danish service offering for home interior manufacturers, wholesalers, and retailers in new markets.

Jesper Petersen, CEO of Road & Logistics at NTG says: "The acquisition of RTC is another testimony to NTG's ambitions within the home interior vertical. By joining forces with RTC, NTG completes its end-to-end service offering which, following completion of the transaction, will include pick-ups, inbound and outbound transports, cross-docking, warehousing, and last-mile services throughout the entire Danish market. The competencies of RTC complement NTG's furniture logistics offering across the Nordics, and we foresee great potential to expand the last-mile platform to new markets in the future".

In 2023, RTC is expected to generate an EBIT of approximately DKK 6.5 million. The acquisition will not affect NTG's financial results in 2023.

Signing of the transaction occurred today, 15 December 2023. Closing of the transaction is subject to approval by the Danish competition authorities.

After closing of the transaction, RTC will continue as a stand-alone subsidiary of NTG, working alongside NTG's furniture specialist subsidiaries in Denmark, Sweden, and Finland, known as LGT Logistics, to promote the end-to-end furniture logistics offering.

Peter Andersen Røddik and Peter Bardrum, co-founders and sellers of the 75% stake in RTC, will continue in their current positions as CEO and COO, respectively, each retaining a 12.5% shareholding in accordance with NTG's ring-the-bell partnership model. In addition to retained ownership, the two co-founders will as part of the transaction enter into an earn-out agreement based on the financial performance in 2024.