Lineage Logistics Expands its European Logistics Offering with the Acquisition of UTI Forwarding
~Acquisition marks Lineage’s entrance into the European freight forwarding industry and strengthens the Company’s ability to efficiently move goods through its global facility network~
NOVI, Mich., United States:
Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global temperature-controlled industrial REIT and logistics solutions provider, today announced its intention to acquire UTI Forwarding, a renowned Rotterdam-based freight forwarder. The acquisition marks Lineage’s entrance into the freight forwarding industry in Europe, further strengthening Lineage’s end-to-end supply chain offering by advancing the operational synergies for the movement of goods through Lineage’s global warehouse network. The transaction, which is conditional upon approval from the competent competition authorities, will close upon receipt of clearance.
Founded in 1961, UTI Forwarding is a leading freight forwarding company that is strategically located in Rotterdam, Netherlands, with a new office in Gdansk, Poland. The company specializes in the exporting and importing of Full Container Load (“FCL”) cargo, handling both temperature-controlled and other containerized goods. With over 400 clients, UTI manages container shipments to and from any port worldwide.
“We are thrilled about our acquisition of UTI. Together we will offer a one stop solution to our shared customers that creates new efficiencies between import and export-based container movements and our warehouses that will help us reduce waste in the supply chain,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “UTI has an exceptional management team and we are excited to partner with them to expand this offering to new customers while investing in technology to further drive growth and savings.”
“From the moment we started talking with Lineage, it was clear to us that our companies were a great match. We share a similar no-nonsense culture, while our customer bases and services perfectly complement each other,” said Peter de Kramer, CEO of UTI Forwarding. “For a while now, our company has experienced significant growth and development, and we reached certain milestones sooner than we expected. Ahead of our discussions with Lineage, Nordian Capital helped us offer clear insight into our performance and our ambitions for further expansion. Becoming part of Lineage now allows us to offer our customers even better service in the future and puts UTI where it belongs – at the very top of the international container market.”
Perry Bos and Caspar Mutze of Nordian Capital commented further: “As we worked together over the past few years, UTI developed tremendously and is now ready for their next step. UTI couldn’t have dreamt of a better partner to realize its growth ambitions. Several buyers expressed an interest, but it was pretty clear from the very start that UTI’s management felt Lineage offered the best opportunities for expanding its offer to their customers. Nordian is proud to what we have achieved together with UTI and we believe UTI and Lineage have a bright future ahead of them.”
ING Financial Services LLC. acted as financial advisor to UTI and its former financial sponsor, Nordian. Rabobank acted as Lineage’s financial advisor and NautaDutilh served as its legal counsel.
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