At the beginning of July 2013, the DSV Group signed an agreement to acquire the entire share capital of Ontime Logistics A.S.
The Norwegian company specializes mainly in road transport, operating in the local, Swedish, and Danish markets. Ontime Logistics A.S. currently employs 220 people in 8 offices in Norway, 5 in Sweden, and 2 in Denmark. In 2012, the company generated revenue exceeding 80 million Euros.
– The acquisition of Ontime Logistics A.S. will contribute to strengthening our position in road transport within Norway. Additionally, Ontime Logistics A.S. has a very strong position in the local market, which in turn will allow DSV to expand the range of services for both existing and new customers – says Jens Bjørn Andersen, CEO of the DSV Group.
The DSV Group is a global provider of transport and logistics services. It has offices and branches in over 70 countries, and thanks to an extensive network of partners, it provides its services worldwide. The company currently employs approximately 22,000 people. Effective and comprehensive solutions allowed DSV to achieve revenue of 6 billion euros in 2012.
The agreement is subject to administrative proceedings and verification by the relevant antitrust authorities. The parties have agreed not to disclose the transaction amount.