Maersk completes acquisition of Martin Bencher Group
Martin Bencher is a project logistics expert with a strong focus on Health, Safety, Security and Environment
Danish carrier Maersk announced the completion of its acquisition of Martin Bencher Group, a Danish project logistics expert with premium capabilities within non-containerised project logistics and global operations.
"I am thrilled to welcome Martin Bencher to Maersk," says Karsten Kildahl, Regional Managing Director in Europe, Maersk. "With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries. As such, Martin Bencher really is an excellent fit to Maersk and our integrator strategy.
Martin Bencher is a specialist within project logistics services with a high degree of reliability, a proven track-record, and a strong focus on Health, Safety, Security and Environment (HSSE), according to a release from Maersk.
Martin Bencher was founded in 1997 and is an asset-light logistics provider. Martin Bencher's core capability is designing end-to-end project logistics solutions, and the company's competitive strengths include deep industry expertise, a solid track record, long-term stakeholder relationships as well as a highly skilled organisation, the release added.
"We look forward to becoming an integral part of Maersk," says Peter Thorsoe Jensen, CEO, Martin Bencher Group. "Our companies complement each other in so many ways that we expect a seamless transition experience for both our colleagues and clients. Together, we can attain our full potential and will bring the scale, commitment, and capabilities to handle the entire logistics scope of work for clients around the world."
The enterprise value of the transaction is approximately $61 million on a post-IFRS 16 basis as announced on August 5, 2022 assuming an unchanged foreign exchange rate. "The enterprise value reflects an EV/EBITDA multiple of 7.1 based on estimated post-IFRS 16 EBITDA for full-year 2021," the release added.
Martin Bencher Group is headquartered in Aarhus, Denmark and has a presence in key locations globally through 31 offices in 23 countries with almost 170 employees.