Maersk closes $644M acquisition of Senator International
A.P. Moller - Maersk has announced the closing of its acquisition of freight forwarding company Senator International. The deal, which was first announced on Nov. 2, had a transaction value of $644 million.
According to a statement, the acquisition will enable Maersk to offer an even wider range of products and the ability to provide flexible and integrated logistics solutions to their customers, allowing the company to either speed up or slow down cargo according to changing supply chain needs.
Vincent Clerc, CEO of Ocean & Logistics at A.P. Moller-Maersk expressed his delight about welcoming the Senator team to the company.
“As a global provider of integrated logistics, we are improving our ability to provide end-to-end solutions to our customers. With Senator on board, we are ramping up our air freight capacity, network, and know-how significantly to cater even better for our customers,” he said.
With it, Senator International will add broad industry expertise and product knowledge to Maersk’s existing network.
Senator’s strong organization and a well-developed airfreight network comprising own controlled flights and long-term partnerships with best-in-class airlines, as well as its well-established full and less container load (FCL and LCL) network will help Maersk provide customers with increased flexibility and redundancy in their supply chains.
Tim-Oliver Kirschbaum, CEO of Senator International described the partnership as “a perfect match”, stating his excitement about “the next chapter in our united journey”.
“By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact.”
Maersk’s ambition is to have approximately one third of the annual air tonnage carried within its own controlled freight network, which will be achieved through a combination of owned and leased aircraft.
The remaining capacity will be provided by strategic commercial carriers and charter flight operators.