Maersk acquires Martin Bencher to strengthen logistics

Maersk announced on August 5 that it has reached an agreement to acquire Martin Bencher Group, a project logistics company based in Denmark, and will launch a new service offering, Maersk Project Logistics.

Founded in 1997, Martin Bencher is a project logistics focused provider whose core competency is designing end-to-end innovative project logistics solutions for global customers.

Project logistics is a specialized service within the global logistics industry, including engineering project logistics, large project logistics, and exhibition logistics. Different project logistics vary in terms of operational technology, approach and organization. It covers solution design, transportation of special cargo such as major pieces and site management, including detailed planning, coordination and sequencing of end-to-end transportation from supplier to destination. Project logistics requires the ability to manage transportation with deep technical expertise on specific supply chain elements such as lifting of special cargoes such as oversized and major pieces, road surveys, delivery planning and site management.

Karsten Kildahl, Maersk's Regional Managing Director for Europe, said Martin Bencher is a perfect fit for Maersk and the acquisition will enhance the ability to provide project logistics services to customers worldwide. With the addition of Martin Bencher, Maersk will be able to offer trusted project logistics services, a solid track record of project experience, and a strong focus on health, safety, security and environmental protection (HSSE). In addition to meeting the project logistics needs of our existing customers, we will also be able to further expand our project logistics business across a wider range of industries.

Robust project logistics solutions are a key element for customers with large project logistics needs across multiple industry sectors, including renewable energy, pulp and paper, power generation, mining, automotive, aid and relief, government contract logistics and industrial manufacturing.

Project logistics is not new to Maersk, which already offers services in Europe and North America, in order to expand and refine the range of services and expand them globally to further meet customer needs and benefit customers. With the acquisition of Martin Bencher, this will significantly strengthen Maersk's project logistics capabilities and provide unparalleled integrated solutions for existing and future customers.

Peter Thorsoe Jensen, CEO of Martin Bencher, said, "It is a pleasure to be an integral part of Maersk, which is a great fit for our employees and customers. Customers requiring project logistics are aware of the constraints and challenges they face and are looking for strategic partners with enough ambition and strength to handle the entire global supply chain now and for years to come. Together with Maersk, the business will have the scale and capability to meet the needs of global customers and further expand into more new industries.

Headquartered in Aarhus, Denmark, the Martin Bencher Group operates in key regions of the world through 31 offices in 23 countries or territories and employs nearly 170 people.

The value of the transaction is said to be approximately $61 million, equivalent to 7.1 times Martin Bencher's full year 2021 EBITDA. Maersk and Martin Bencher will remain independent operations until all necessary regulatory approvals are obtained and the transaction is completed.