A.P. Moller – Maersk (Maersk) has reached an agreement to acquire the Martin Bencher Group in a bid to extend its project logistics offer.
Denmark-based Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics.
The value of the transaction is $61 million (enterprise value). Until obtaining all required regulatory approvals and closing of the transaction, Maersk and Martin Bencher Group remain two separate companies.
“Martin Bencher will be an excellent fit to Maersk and our integrator strategy, strengthening our ability to provide project logistics services to our global clients,” said Karsten Kildahl, Regional Managing Director in Europe of Maersk.
“When Martin Bencher joins the Maersk family, we will be able to deliver project logistics services with a high degree of reliability, a proven track-record, and a strong focus on Health, Safety, Security and Environment (HSSE).
“In addition to supporting our existing customers’ project logistics needs, we will also be able to provide a more comprehensive offering to a wide array of industries.”
READ: Maersk subsidiary finalises acquisition of ResQ
With the intended acquisition, Maersk also announced its new product, Maersk Project Logistics (MPL) – a specialised service offering covering solution design, special cargo transport and project management services, including planning, orchestration, and sequencing of end-to-end shipments from suppliers to destination sites.
Maersk said the move will bolster its project logistics capabilities and develop an unparalleled integrated offering to serve existing and future customers, also within new industries.
The new MPL product will enable Maersk to provide more extensive end-to-end solutions for customers with management needs, requiring both containerised and non-containerised solutions – as the Danish giant looks to add resilience and agility to customer supply chains.
“We are thrilled to become an integral part of Maersk, which we see as an ideal fit for our people and clients,” added Peter Thorsoe Jensen, CEO of Martin Bencher.
“Clients requiring project logistics are aware of the constraints and challenges facing them and are seeking strategic partners with sufficient ambitions and strength to handle their entire global supply chain now and in the years to come.
“Together with Maersk, we will have the scale, commitment, and capabilities to handle the entire logistics scope of work for clients around the world – as well as expand into new industries.”
Earnings more than doubled compared to same quarter last year, according to the Danish firm.
