In a press release, sennder confirmed that via the transaction, EST will become part of sennder and as a result, deliver “significant growth potential, unlock the full power of network density and technology for the European road freight industry, and accelerate decarbonization efforts.”
According to sennder, the combined business will become a Top 5 Full Truck Load (FTL) player in Europe, with a combined revenue of EUR 1.4 billion, a team of around 1,700 people, and sport more than 20 locations.
In addition to this, the deal will bring a total of over 6,500 shippers and over 15,000 to the sennder network.
Sennder says the acquisition will also expand shipper and carrier propositions through “access to efficient network planning, and to competitive capacity as well as to a broader array of freight opportunities via sennder’s proprietary platform, sennOS.”
Shippers will gain access to the aforementioned platform, while carriers will benefit from “higher utilisation, fewer empty kilometres, faster payments, and technology that reduces their administrative workload.”
The company also claims that all customers will “benefit from a boost in efficiency in load management, increased operational transparency, and superior service quality.”
Commenting on the deal, David Nothacker, CEO of sennder, said:
“This acquisition will be pivotal in advancing sennder’s roadmap. With its vision to accelerate global trade to deliver products and goods that drive the world’s economy, C.H. Robinson aligns strongly with sennder’s mission and values to create an efficient and sustainable road freight network in Europe. sennOS, the technological powerhouse behind sennder, requires scale and volume density to unlock its full potential. This M&A transaction gives us that scale. We are deeply impressed by the EST team from C.H. Robinson, and with our combined business and enhanced talent pool, we can deliver substantial growth and operational scale, accelerating our European expansion in road freight and increasing network density and digital capabilities for the benefit of carriers, shippers, and the wider industry. We are excited to welcome the EST team, and embark on the next chapter of sennder’s journey.”
David Bozeman, President and CEO of C.H. Robinson, added:
“I am convinced that sennder will be a great home for the EST business and will provide good continuity of service to EST customers. We are confident in this strategic decision to drive more focus in our organization and pleased to see the potential for growth and opportunity that this transition brings for the EST team. To win, we need to focus on what sets us apart and build upon our competitive advantages. While we remain committed to our global forwarding and managed services presence in Europe, and continuing to invest in the region, this clarity of investment is important for the long-term success of our business and employees as well as the value and impact we can offer our customers and carriers.”
The closing of the transaction remains subject to the completion of the corporate structuring of the EST business unit to be acquired, as well as mandatory employee consultations and applicable merger control proceedings and is expected to close in Q4 2024.
sennder was advised by Evercore on the financial side and Taylor Wessing on the legal side. Terms of the transaction have not been disclosed.