AUGUST 7, 2018 — Private equity investor Nordic Capital has signed an agreement to divest Aarhus, Denmark, headquartered short sea and feeder service specialist Unifeeder Group to DP World for EUR 660 million (about $765 million).
Unifeeder describes itself as an “asset-light logistics company” and operates approximately 60 short-term chartered vessels, carrying around 3.2 million TEUs and performing some 12,000 port calls annually.
“We are delighted to add the Unifeeder brand under the DP World umbrella, which supports our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler,” says Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World. “The ever-growing deployment of ultra-large container vessels has made high-quality connectivity from hub terminals crucial for our customers and Unifeeder is a best-in-class logistics provider in this space with a strong reputation in Europe. Our aim is to leverage on the in-house expertise of Unifeeder and to accelerate growth in this scalable platform to deliver value for all stakeholders. Unifeeder operates on the same common-user principle as DP World and adds to the Group’s strong value proposition to international shipping lines and end cargo owners in making the global supply chain more efficient and cost effective.”
Unifeeder will continue to operate on a fully independent, multi-user basis under its current existing management.
“We are excited to join the DP World Group. Not only is there commonality with our business models but we also share the vision of serving our customers through removing inefficiencies and delivering sustainable shareholder value,” says Unifeeder CEO Jesper Kristensen. “We have enjoyed great success over the last five years under Nordic Capital’s ownership, and we believe that the Unifeeder brand within the DP World Group has the opportunity to accelerate growth, expand further and take the business to the next level.”