Explaining the motivation behind deal, SGL said that Portugal is an important gateway to South America and regions in Africa, and completes the company’s footprint on the Iberic Peninsula.
Thanks to the acquisition of FLS, SGL is now represented in 49 countries worldwide.
Over the last 6 months, SGL has also acquired Sand Road Freight in Denmark, ETS Transport & Logistics, ETS Fulfillment in Germany and Belglobe in Switzerland.
The acquisition spree isn’t over yet, as SGL has stated that more deals can be expected in the coming months.
Commenting on the acquisition, Thomas Lyck, Executive Vice President of Government & Defence at SGL, said:
“FLS has built strong relations with the Portuguese Ministry of Defence, is highly engaged with the US Foreign Military Sales, and has developed a unique IT solution tailored to these customers’ specific demands. Coupled with our transport capabilities and global government and defence competence centres throughout the world, it will reinforce the comprehensive support, expertise, and value-adding solutions we provide customers within the industry.”
Founder and CEO at FLS, António Beirão, added:
“We see eye to eye on significant matters and share a common business approach of building close customer relations on trust, transparency, and industry know-how. Consequently, SGL makes an ideal future home for our valued customers and employees. I look forward to continuing to nurture these strong relationships and providing tailor-made and effective solutions to our customers.”
The transaction is subject to approval by the Portuguese Competition Authority, and it is the intent of the parties to finalise the acquisition shortly after the approval has been received.