NTG acquires all operational entities of the Gondrand Group

After a long period of intense negotiations, NTG Nordic Transport Group (Hvidovre, Denmark) has signed an agreement to acquire all operational entities of the Swiss Gondrand Group. The entities included in this transaction will continue to trade under their current esteemed trading names. Gondrand Group will continue its activities of real estate and other diverse fields of business. 

The future ownership structures of the Gondrand companies will be changed into the same ownership structure as all NTG companies are based on today. Each individual enterprise in the Group is shared with the employees. Nordic Transport Group A/S has a 51 per cent shareholding, while the employees in each individual company own 49 per cent.

Gondrand was founded in Italy in 1866 and is today a full-service logistics provider, that operates in 7 countries from more than 60 offices. The company currently employs around 650 people and has an expected 2017 turnover of around EUR 221.6 million.

This acquisition is a significant step for NTG on the way towards their desired geographical expansion in Europe and Asia. It will certainly strengthen their position in Germany, Switzerland, Italy, Hungary, Holland, Czech Republic and China, where the company is going to become even more active, with a higher number of own offices as well as an increased number of local experts.

“For the Air & Sea business of NTG, this acquisition presents a huge boost to our overall activities, more than doubling the revenues and bottom-line figures of the division. Furthermore, with future own offices in China, Germany, Switzerland, Hungary, Holland, Czech Republic and Italy we will now be able to provide a much better service to our current NTG clients. Vice versa the Gondrand companies will benefit from being able to service their clients better in Northern Europe and Russia + CIS countries where NTG is strong today. Finally, the acquisition will open up for new sales opportunities for both Groups, as our increased size and geographical coverage will allow us to attract more and larger clients in the future,” says Mikkel Fruergaard part of NTG’s Executive Managementand CEO for the Air & Sea Division.

“For the Road division of NTG, we see this geographical expansion into Mid -and Southern Europe as the first important step towards securing a stronger foothold within these regions. This acquisition alone will still not make us one of the large players there, but it will provide us with a good base to build on further, and this is exactly what we aspire to do in the future,” adds Jesper E. Petersen part of NTG’s Executive Managementand CEO for the Road & Logistics Division.

The Nordic Transport Group will following the acquisition achieve an estimated annual turnover of more than EUR 671.7 million with an expected 2018 EBIT result of EUR 26.9-29.6 million.

www.gondrand-logistics.com; www.ntg.dk