DHL Supply Chain has purchased a 100 percent stake in Carugate, Italy-based MIT Safetrans, which specializes in high value logistics services in the technology, pharmaceutical, banking and vending sectors, for an undisclosed price.
DHL Supply Chain has acquired a 100 percent stake in Italian logistics provider MIT Safetrans, the company said in a statement.
Based in Carugate, Italy, MIT Safetrans specializes in niche, high value logistics services in the technology, pharmaceutical, banking and vending sectors.
Financial terms of the deal were not disclosed.
With the deal, the Deutsche Post DHL Group contract logistics subsidiary adds 20 operating sites to its network in Italy, bringing the company’s total workforce to more than 800 employees at around 60 facilities across the country.
MIT Safetrans reported earnings before interest, taxes, debt and amortization (EBITDA) of 6 million euros (U.S. $6.7 million) on annual revenues of 48 million euros in 2015.
Under the purchase agreement, MIT Safetrans will maintain its current management and distribution structure, including current Chief Executive Officer Marco Crenna.
In addition, the firm will remain a part of the specialized European high-tech network TENESO, of which it is a founding member.
The transaction is the second such acquisition for the DHL Supply Chain Italy unit after the 2011 purchase of Italian third-party logistics provider Eurodifarm.
“The acquisition’s strategic value is twofold for us: on the one hand, it allows us to extend our services, competences and targets. On the other hand, it allows us to transfer the know-how we have developed in highly specialized and innovative niches into all the other sectors, further fostering our leading position,” DHL Supply Chain Italy President and CEO Eddy De Vita said of the deal. “We are now aiming to assert ourselves as an operator with the largest portfolio of added-value services capable of satisfying the most demanding companies. The realization of this project further confirms the trust Deutsche Post DHL Group has in Italy.”
“Our company is the result of a venture, which began over 30 years ago, resulting in the creation of a niche operator and market leader in Italy,” added Emilio Mondelli, founder and chairman of MIT Safetrans. “In DHL Supply Chain, we have met the same entrepreneurial style that distinguishes us and will bring us great opportunities for growth as well as innovations due to the resources and logistic market competencies of DHL Supply Chain.”
DHL subsidiary acquires Italian logistics provider
