SDK FREJA acquires Swedish haulier IRT Logistics
You can read this article in 3 minutes
Denmark's SDK FREJA has announced the acquisition of Swedish haulage firm IRT Logistics, who specialise in groupage transports between Sweden and the UK.
The deal, which was agreed before the end of the year, was SDK FREJA’s 3rd in 2021, and follows the merger between SDK and FREJA in 2020. In addition to IRT Logistics, Finland’s TL Trans, and Norway’s Thoresen Transport were acquired last year.
SDK FREJA said their latest acquisition would help the company to achieve its goal of a total turnover in 2025 of DKK 8-10 billion (around 1-1.3 million euros). Explaining the decision, SDK FREJA highlighted the fact IRT Logistics had recorded a 65% percent increase in its annual result over the past five years.
IRT has been acquired with an expected annual turnover of SEK 45 million, and all 9 staff in IRT Logistics will now employed under the new ownership.
Commenting on the deal, Søren Skive, EVP in FREJA Transport & Logistics AB, said:
“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.”
Björn Steenstrup, founder of IRT Logistics, said the company’s 20th anniversary “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.”
Ulrik Rasmussen, Group CEO of FREJA Transport & Logistics Holding A/S, added that the acquisition was a reaction to expected demand for “one-stop-shop logistics services”:
“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. 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”.