Rauma, Finland, 30 June 2023: Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that its portfolio company Logent AB (“Logent”), which provides customized logistics solutions in Sweden, Denmark, Norway and The Netherlands, has acquired Logistikas Oy (“Logistikas”), a Finnish logistics platform, from its shareholders including KH Group Plc. The debt-free purchase price of the share transaction is EUR 23.5 million and the total purchase price paid to the sellers for the shares and other equity items is approximately EUR 18.5 million. The completion of the acquisition was executed simultaneously with the signing of the transaction documentation.
Stirling Square, which acquired Logent in 2019,will continue to support Logent in becoming the leading customized logistics provider in Northern Europe through further acquisitions and expansion of the service offerings to blue-chip customers across its core markets. Under Stirling Square’s ownership, Logent has expanded internationally from its base in Sweden and Norway.
Logistikas, headquartered in Rauma on the west-coast of Finland, has ten operating sites across the country, and provides blue chip customers, including Hitachi Energy and ABB, with an integrated suite of diversified logistics solutions - including industrial services, storage and transport management.
Linda Aidanpää Baronnet, CEO of Logent Group said: “The acquisition of Logistikas, a highly complementary business that is a market leader in Finland, supports our strategy of expanding and growing our presence in Northern Europe. Logistikas shares our values and customer centric approach and has built an impressive platform across Finland which is a priority growth market for our business.”
Toni Brigatti, CEO of Logistikas, added: “This is a good outcome for Logistikas. I have known, and admired, the Logent team for several years. I believe that we share common values and our businesses are highly complementary in terms of service offering, customer base and geographic reach. I am looking forward to this next phase of our growth as a combined platform”.
Henrik Lif, Partner at Stirling Square, commented: “We are delighted to announce the combination of Logent and Logistikas. This marks a transformational milestone in Logent’s international expansion, which will strengthen its position as a logistics champion in Northern Europe”.
Stirling Square has extensive experience investing in the Nordics. Its current portfolio includes AssistansBolaget, Byggfakta, Logent and SAR, and earlier this month, Stirling Square acquired a majority stake in ConTech software company Infobric from Summa Equity, which is subject to customary regulatory approvals.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has signed an agreement to acquire Logent Holding AB (“Logent” or “the company”). The transaction is expected to close in June.
Logent is the leading independent provider of customised contract logistics solutions in Sweden and Norway. With deep operational capabilities across the full logistics outsourcing value-chain, its services include Warehousing, Transport Management, Ports Operations, Customs Handling and Staffing & Recruitment.
Logent’s unique business model is rooted in a consultative approach, designing, implementing and operating dedicated solutions for customers that require substantial updates to their logistics operations. Its customers include small and medium-sized enterprises in the e-commerce, automotive and industrial sectors.
Henrik Lif of Stirling Square said: “Logent is truly the best-in-class operator in the Nordics. We look forward to partnering with CEO Mats Steen and the Logent team to capture the tremendous opportunity before them.”
Mats Steen, CEO of Logent added: “We are delighted to welcome our new shareholder to Logent. In partnership with Stirling Square, we look forward to expanding our breadth of services and solutions to reach new customer segments requiring increasingly sophisticated solutions to handle rising volumes and complexity.”
The transaction represents the second platform investment in Stirling Square’s Fourth Fund.