GOTHENBURG, Sweden, April 26, 2002 (PRIMEZONE) -- The transport and logistics group Wilson Logistics Group, is acquiring the Swedish air- and seafreight group Exceed AB. Through the merger with Exceed, Wilson will consolidate its position as a leader on the Nordic market with global annual net sales for the Group of approximately SEK 7,000 million.
The Wilson Logistics Group has reached an agreement with the private equity company Ratos AB on the acquisition of the Nordic-based air- and seafreight group Exceed AB, which is represented through companies in Sweden, Denmark, Finland and the United Kingdom. The new group will be coordinated under the Wilson Logistics Group with the present MD, Henrik von Sydow, as CEO. The Group will have annualised net sales of approximately SEK 7,000 million, subsidiaries in 27 countries on five continents and approximately 2,300 employees.
"The Wilson Logistics Group strategy is to expand globally from a strong Nordic base. Through the acquisition of the Exceed Group we will consolidate our position as a leader on the Nordic market whilst at the same time we will expand our global business. Exceed's strategy in recent years has been to focus on becoming a key player in the air- and seafreight market in the Nordic region. Changes in the competitive structure and continuing global consolidation have meant that this ambition has become more difficult to achieve within the present structure. Through the merger with Wilson this goal will be realised," said Henrik von Sydow, CEO, Wilson Logistics Group.
"Despite the fact that the companies, particularly in Sweden, have a strong market position, joint analyses have revealed that the companies complement each other more than through simple duplication. The merger is thus a logical step for both companies. The merger with Exceed AB will bring with it an important injection of expertise as well as customers within third-party logistics, which we feel is a key strategic component," concluded Henrik von Sydow.
"A very strong Nordic player on the global air- and seafreight market has been formed," states Peter Larsen, CEO, Exceed AB. "This will allow us to achieve our objective, which will in turn benefit Nordic industry in its effort to compete on the world market."
Exceed Sweden's current MD, Peter Nevhagen, will be MD for the Wilson Group's Swedish subsidiary, Wilson Logistics Sweden AB. Kent Carlsson, the present MD of the Swedish company, will continue as Director of Logistics on the group level. Exceed's operations in Denmark, Finland and the U.K. will be coordinated under the present Wilson companies and management. The MD in Denmark is Ole E. Rohmann and the MD for operations in Finland is Erik Soderholm. The merger is subject to the approval of the competition authorities.
The Wilson Logistics Group provides air- and seafreight and logistics services in an international network, with subsidiaries in 27 countries and 126 offices throughout Europe, Asia, Australia, New Zealand and North and South America. Wilson is one of the leading companies in the industry on the Nordic market. Net sales for 2001 amounted to SEK 5.477 billion. The Wilson Logistics Group has approximately 2,000 employees and is owned by Nordic Capital, a leading private equity company in the Nordic region, and the management of Wilson Logistics Group.
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