Maersk Completes Acquisition of Logistics Firm Martin Bencher
Danish shipping giant A.P. Moller - Maersk (Maersk) announced it has completed its $61 million acquisition of Danish project logistics company Martin Bencher Group.
“With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries. As such, Martin Bencher really is an excellent fit to Maersk and our integrator strategy,” said Karsten Kildahl, Regional Managing Director in Europe of Maersk.
Founded in 1997, the Aarhus, Denmark headquartered Martin Bencher Group is an asset-light logistics provider that specializes in project logistics, serving various industries such as oil & gas and renewables to paper mills and power plants. The firm has a presence in key locations globally through 31 offices in 23 countries, with almost 170 employees.
The enterprise value of the transaction is approximately $61 million on a post-IFRS16 basis as announced in August 2022 assuming an unchanged foreign exchange rate. The enterprise value reflects an EV/EBITDA multiple of 7.1 based on estimated post-IFRS16 EBITDA for full-year 2021.