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AP Møller-Maersk is to acquire Danish company Martin Bencher Group and launch a new product, Maersk Project Logistics.
Denmark-based Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics.
Project logistics is not new to Maersk, however, the company already has “niche competencies” based mainly in Europe and North America. However, in order to expand and mature the service offering, these activities will be consolidated into a global product offering, said Maersk.
It added: “This will enable Maersk to significantly accelerate its project logistics capabilities and develop an unparalleled integrated offering to serve existing and future customers, also within new industries.”
Martin Bencher Group is headquartered in Aarhus and has a presence globally through 31 offices in 23 countries, with almost 170 employees. Maersk said the value of the transaction is $61m in enterprise value post-IFRS 16 lease liabilities, reflecting an EV/Ebitda multiple of 7.1x based on estimated Ebitda for 2021.
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