The acquisition of IRT Logistics brings new colleagues and a strengthened business area for groupage transport between Sweden and the UK to the fast-growing Danish logistics company SDK FREJA.
To strengthen the competencies of road transport of groupage between Sweden and the UK, the Danish company SDK FREJA has invested in the Gothenburg-based niche logistics company IRT Logistics.
“IRT Logistics has been on our radar for a long time, and now the time was right for us to enter into an agreement. It is an acquisition that will strengthen our business considerably on groupage transports between Sweden and the UK. At the same time, both existing and new customers will experience that the new customer-facing IT solutions that a company of SDK FREJA's caliber brings to IRT Logistics, will strengthen the services they demand”, says Søren Skive, EVP in FREJA Transport & Logistics AB.
Founder of IRT Logistics, Björn Steenstrup, is also pleased to know that his life's work will continue under SDK FREJA.
“For a long time, we have considered FREJA a qualified partner to run our company with the right visions, and now it was time. This year, we were able to celebrate our 20th anniversary, and it seemed an appropriate time to pass on the torch to someone who shares our values and who can and will further develop the company that we have built”, says Björn Steenstrup.
IRT Logistics itself has been on a growth journey with a 65 percent increase in the annual result over the past five years, and it is acquired with an expected annual turnover of SEK 45 million. All nine employees in IRT Logistics will continue under the new ownership.
The growth journey continues in 2022
The acquisition of Swedish IRT Logistics is the third acquisition under FREJA Transport & Logistics in 2021, and it is the latest addition to SDK FREJA's growth journey. Since the two logistics companies merged in December 2020, the journey has included a partial acquisition of the Danish company Nordic Waste and three acquisitions of logistics companies throughout the Nordic region: Finnish TL Trans, Norwegian Thoresen Transport, and now Swedish IRT Logistics.
It is this acquisition approach that will ensure continued growth towards SDK FREJA's goal of a total turnover in 2025 of DKK 8-10 billion.
“We expect an increasing need in the market for one-stop-shop logistics services. By always being on the lookout for new partners and companies that can supplement and improve our services, we are well on our way to being the obvious choice”, says Ulrik Rasmussen, Group CEO of FREJA Transport & Logistics Holding A/S, and elaborates:
“The most important thing in our acquisition strategy, however, will always be that we can find common ground between potential companies and ourselves in both values and business. Logistics is a people business, and it is best built on trust and understanding. A motto that governs everything we do in our business”.
SDK FREJA is part of the Danish family-owned group United Shipping and Trading Company, USTC. An international conglomerate with a wide range of companies in areas such as logistics, shipping, bunker, IT, and alternative energy.
The transaction price will not be disclosed.