Maersk takes over project logistics company and launches new product

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Maersk is acquiring the Martin Bencher Group, a Denmark-based firm specialising in non-containerised project logistics. The shipping giant has also announced the launch of a new product today named ‘Maersk Project Logistics'.

Maersk takes over project logistics company and launches new product
Photo credit @ Bari Bookout/ Wikimedia Commons

The acquisition of Martin Bencher will allow Maersk to launch its Maersk Project Logistics service, whose offering shall cover a 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.

Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. The company’s core capability is designing end-to-end project logistics solutions for global clients, and its competitive strengths include deep industry expertise, a solid track record, long-term stakeholder relationships as well as a highly-skilled organisation.

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.

According to Maersk,  the proposed acquisition of Martin Bencher will enable the company 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 61million (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.

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