Logent Group has today entered into an agreement with KH Group to acquire all shares in the Finnish company Logistikas Oy (“Logistikas”). The debt-free purchase price of the share transaction is EUR 23.5 million and the total purchase price paid to the sellers for the shares and other equity items is approximately EUR 18.5 million. In 2022, Logistikas’ net sales amounted to EUR 31.8 million and EBITDA to EUR 2.4 million. The acquisition is not subject to any conditions and the closing takes effect immediately.
Logistikas has a strong reputation and a solid client base in contract logistics, including both dedicated solutions, a complementary multi-client warehousing offering and transport management services. Being present in the western and central parts of Finland, Logistikas is strategically positioned for further growth and will be an important step in Logent’s growth strategy of expanding our coverage in the Nordics and continued journey towards a leading Northern European position.
Over the last 25 years Logistikas has built a strong culture of customer focus and service quality, that has resulted in healthy growth and long-term partnerships. Present on 10 different locations with a broad range of services within the industrial, energy and trade segments Logistikas has a privileged position for further expansion.
“The company ends up in a good home. I have known the new owners for several years and I believe that our cooperation will be interesting in a positive way. We share common values and we have many similarities both in terms of service offering and customer base”, says Toni Brigatti, CEO of Logistikas.
“The acquisition of Logistikas, a highly complementary business that is a market leader in Finland, supports our strategy of expanding and growing our presence in Northern Europe. Logistikas shares our values and customer centric approach and has built an impressive platform across Finland which is a priority growth market for our business. We are excited to start working with our 250 new Finnish colleagues – very welcome to the Logent Group to all of you!” says Linda Aidanpää Baronnet, CEO Logent Group.
“We are delighted to announce the combination of Logent and Logistikas. This marks a transformational milestone in Logent’s international expansion, which will strengthen its position as a logistics champion in Northern Europe”, says Henrik Lif, Partner at Stirling Square.
For further information, please contact:
Linda Aidanpää Baronnet, CEO, +46 707 858725, linda.aidanpaa@logent.se
Johan Wallmander, CFO, +46 703 517724, johan.wallmander@logent.se
This information is information that SSCP Lager BidCo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 16:30 CET, 30th of June 2023.
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