A. P. Moller - Maersk to acquire Danish company Martin Bencher Group
A.P. Moller - Maersk (Maersk) has reached an agreement to acquire Martin Bencher Group, a Denmark-based project logistics company with premium capabilities within non-containerised project logistics, according to the company's release.
Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. Martin Bencher’s core capability is designing end-to-end project logistics solutions for global clients, 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.
With the intended acquisition of Martin Bencher, Maersk will also introduce a new product, Maersk Project Logistics. Project logistics is a specialised service offering within the global logistics industry that covers the combination of solution design, special cargo transportation, and project management services - including detailed planning, orchestration, and sequencing of end-to-end shipments from suppliers to destination sites.
Such service requires managed transportation capabilities with deep technical specialist knowledge around specific supply chain elements such as handling of oversized and special lift cargo, conducting road surveys, and delivery planning as well as offload and assembly of the equipment on sites.
A strong project logistics solution offering is a key element for clients with logistics requirements for large scale projects across several industry segments, including renewable energy, pulp and paper, power generation, mining, automotive, aid and relief, government contracted logistics and industrial manufacturing.
Together with the proposed acquisition of Martin Bencher, 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.
The value of the transaction is USD 61m (enterprise value) post-IFRS 16 lease liabilities, reflecting an EV/EBITDA multiple of 7.1 based on estimated EBITDA for full-year 2021. Until obtaining all required regulatory approvals and closing of the transaction, Maersk and Martin Bencher Group remain two separate companies and thus will run their businesses independently as usual.
Martin Bencher is a professional Project specialist with a global footprint, focusing on innovative, technical solutions in order to move oversized freight to destinations all over the world. The company transports cargo from various industries and specialise in the handling of project cargo – everything from Paper Mills to Power Plants, Renewables as well as Oil and Gas projects.
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. The company operates in 130 countries where it services more than 100.000 businesses and employs about 105,000 people.
