The acquisition of Finlogistics doubles the Danish company’s activities in Finland.
Denmark-based Leman, a provider of logistics, transportation services and customized pharma solutions, has doubled its activities in Finland by acquiring all shares of FL Services OY (Finlogistics) on Friday.
Financial terms of the deal were not disclosed.
Thomas Krøyer, CEO of Leman, said Leman and Finlogistics are expected to merge before the end of 2018.
Finlogistics, which has 10 employees, offers air freight, ocean freight and logistics solutions.
Prior to the acquisition, Finlogistics was managed and operated by two of the co-owners, Rami Orola, managing director, and Tero Laukkanen, traffic manager. Orola said that are both continuing on in the company.
Leman has about 800 employees, which are located in Denmark, Finland, Sweden, Norway, Great Britain and the United States.
In 2017, Leman had a turnover of DKK 2.16 billion (U.S. $339.4 million), up 8.2 percent from 2016, while profits tumbled 21.9 percent to DKK 36.89 million. European road transport has been severely impacted by the lack of drivers and increasing freight volumes, while intense competition for ocean and airfreight has, in some cases, put pressure on margins, Leman explained. However, Krøyer said the diversification of Leman’s product range has made the company less vulnerable.
Last September, Leman announced the acquisition of U.K.-based freight forwarding company Maru International, which focuses on European road transport while also offering air, sea and logistics solutions.
Leman latches onto Finnish logistics company
