PARIS, FRANCE: ID Logistics, one of the European leaders in contract logistics, announced the acquisition of 100% of GVT Transport & Logistics.
The transaction is based on a purchase price with an enterprise value of €80 million and will be fully paid in cash. ID Logistics will keep a sound financial structure with a leverage ratio of 1.2x proforma EBITDA post-acquisition.
The transaction remains subject to the approval of Dutch competent regulatory authorities in merger & acquisition monitoring control. Closing is expected by the end of 2021.
By acquiring GVT Transport & Logistics, ID Logistics actively pursues its international growth strategy. The Group will consolidate its positions in Europe by creating a key logistics player in the Benelux. Benelux is the 3rd logistics market in Continental Europe, after Germany and France, and the port of entry of many industrial and retail customers
GVT Transport & Logistics is the transport and logistics division of GVT Group of Logistics founded in 1957. It offers warehousing, road transport, and last-mile delivery services.
The division named BTT, which offers multimodal container solutions, is not part of the transaction and will remain operated separately by GVT Group of Logistics.
GVT Transport & Logistics manages 12 sites, employs more than 750 professionals, rents 200.000 m² of warehouses, and has a fleet of 285 trucks throughout the Netherlands and Belgium.
Its main logistics campus in Tilburg is strategically located within a short distance from important sea-and airports and good accessibility by water, rail, and road with many international manufacturers based in this region. GVT Transport & Logistics serves a diversified client portfolio, mostly A-brand international electronic goods and non-food retail companies.
GVT Transport & Logistics and ID Logistics have had successful cooperation in the Benelux for many years. Both head offices are based in Tilburg. Combining the two companies will offer unique logistics services on the market and strong visibility on this strategic market.
Eric Hémar, CEO of ID Logistics declared: “We are very happy to finalize this agreement for the acquisition of GVT Transport & Logistics, which concludes several years of fruitful cooperation and development. Thanks to this acquisition, ID Logistics Benelux will become a key player in the Benelux market, especially in the Netherlands, and will propose a full scope of services to our existing or future customers. I am sure that the GVT team and employees will have a bright future in ID Logistics Group and will be able to develop their know-how on a large scale”.
Wil Versteijnen, CEO of GVT Group, declared: “Over the past 15 years, we have created a sustainable intricate distribution network with hubs at 6 locations in the Benelux. In the rapidly changing and challenging market, it is important that we can continue to serve our customers in the future.
I am convinced that this step will be of even greater added value for our employees and customers. With the acquisition by ID Logistics, there are more opportunities for growth in the future. Thanks to the existing successful cooperation, I am convinced that the high standards and values with regard to customers and employees will be continued.”