Maersk announced that it has reached an agreement with Bridgepoint Development Capital to acquire Swedish customs agent KGH for about $ 281 million.

KGH is a specialist in trade and customs management services in Europe.

«This will further enhance Maersk’s capabilities as an integrated container logistics company, offering comprehensive supply chain solutions to its customers,» the company said in a statement.

He added that with its specialized experience in modes of transport (air, sea, land) and in-depth knowledge of selected industries, combined with innovative technology, KGH will significantly improve Maersk’s overall offering within customs services.

«KGH has a strategy focused on digital solutions and technology as an enabler for a smoother customer experience, which also corresponds to Maersk’s digital transformation journey,» said.

Maersk

Based in Gothenburg, Sweden, KGH is a partner for a wide range of authorities, providing consultancy and advice, most recently in relation to Brexit, as advisors to various authorities in the EU and the UK.

In recent years, KGH has achieved double-digit annual growth resulting in revenue of approximately SEK 890 million in 2019 (USD 95.5 million), recurring EBITDA of approximately SEK 160 million (USD 17.2) and a EBITDA margin of approximately 18 percent. KGH has 775 employees and an annual business of 1.98 million authorizations.

“With Maersk, we will have a long-term home with a company that shares our values. By joining forces, we will be able to continue building on the great success that our teams have achieved, while at the same time playing a key role in a combined entity that offers a range of different services within the transportation and logistics industry. Customs services are an essential part of the comprehensive needs of our customers which, in unison with Maersk, we will be able to provide fluently and globally, «says Lars Börjesson, CEO of KGH Customs Services.