The management buyout was led by CEO Eddy Allaert and secures the future of 150 employees, according to Belgian trade publication Transportmedia. The company says operations will continue without interruption.
Intertrans was one of the entities affected by the bankruptcy of Ziegler Belgium, which filed for bankruptcy at the Brussels Commercial Court on 1 June. The insolvency also involved Ziegler SA, Dornach and Universal Express.
The deal covers the full continuation of the company’s activities and the takeover of its workforce. According to the company, financial protection for suppliers was also taken into account as part of the transaction.
Intertrans operates from several logistics sites in Belgium, including Aubange, Houdeng-Goegnies, Rekkem, Machelen, Zeebrugge and Vilvoorde. Its sites include 25,000 square metres of logistics space in Houdeng-Goegnies, 10,000 square metres in Aubange, 7,500 square metres in Rekkem, 7,000 square metres in Vilvoorde and 1,500 square metres in Zeebrugge.
The transaction also includes Intertrans’ wholly owned subsidiaries in Luxembourg and the Netherlands, whose activities and staff are being taken over as part of the deal. In addition, the activities of Wetrex, a forwarding company specialising in perishable goods and active in Zeebrugge and Antwerp, will continue under the Intertrans name.
Allaert said the management team wanted to move quickly to protect customers, employees and partners.
“We are opting for a single, strong and recognisable brand within our logistics and forwarding activities,” Allaert said, according to Transportmedia.
He added that the buyout would restore stability and future prospects for Intertrans after the uncertainty caused by Ziegler Belgium’s bankruptcy.
The move follows a wider break-up of Ziegler Belgium’s operations. Transuniverse Forwarding has taken over most of Ziegler Belgium’s activities, while Van Moer Logistics has acquired the group’s air freight division at Brucargo.
The latest deal means Intertrans will continue as a separate business under its own management, rather than being folded into one of the other rescue transactions.
