Maersk completes acquisition of Senator International
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Maersk has announced the closing of its acquisition of global company in freight forwarding company Senator International.
Senator brings with it an airfreight network comprising own controlled flights and long-term partnerships with airlines, a full container load (FCL) and less than container load (LCL) network and specialized services such as packaging, warehousing and distribution across five continents.
Maersk says the deal will allow Maersk to offer an even wider range of products and the ability to provide flexible and integrated logistics solutions to their customers. It also allows for the speeding up or slowing down of cargo depending on its changing supply chain needs.
“We are delighted to welcome the Senator team to our Maersk family. As a global provider of integrated logistics, we are improving our ability to provide end-to-end solutions to our customers. With Senator on board, we are ramping up our air freight capacity, network, and know-how significantly to cater even better for our customers,” says Vincent Clerc, CEO of Ocean & Logistics, A.P. Moller-Maersk.
In the past two years, knock-on effects of Covid-19 have led to widespread congestions and production issues. As a result, more customers are requesting alternative means of cargo transportation.
Senator will add their industry expertise and product knowledge to Maersk’s existing network and thus provide customers with increased flexibility and redundancy in their supply chains.
The enterprise value of the transaction on a post IFRS 16 basis is approximately USD 644m as announced on 2nd of November assuming unchanged FX rate.
“By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact. It’s a perfect match, and we are really excited about the next chapter in our united journey,” explains Tim-Oliver Kirschbaum, CEO of Senator International.
Maersk’s ambition is to have approximately one-third of the annual air tonnage carried within its own controlled freight network, which will be achieved through a combination of owned and leased aircraft.
The remaining capacity will be provided by strategic commercial carriers and charter flight operators.