On August 5, Maersk announced on its official website that it had reached an agreement to acquire Martin Bencher Group, a project logistics company headquartered in Denmark. The transaction has an enterprise value of $61 million.
For projects with special-sized, complex components that require specialized solutions, shipping can be complicated, Maersk said. And Martin Bencher has excellent competitiveness in the field of non-containerized project logistics.
According to Maersk, Martin Bencher was established in 1997 and is headquartered in Aarhus, Denmark. It operates in major regions of the world and is a light asset logistics provider focusing on project logistics. 31 offices in 23 countries with nearly 170 employees. The company's core competency is to provide end-to-end project logistics solutions to customers around the world, and the company's competitive advantages include deep industry expertise, strong performance, long-term relationships with stakeholders and a highly skilled workforce .
Project logistics is a professional service in the global logistics industry. It combines traditional freight and transportation capabilities with the unique skills and competencies required for project planning, transportation engineering, procurement, health safety, security, environmental and quality compliance, and contract and supplier management. It covers a combination of solution design, special cargo transportation and project management services, including detailed planning, coordination and sequencing of end-to-end transportation from supplier to destination, ensuring that all shipments meet and arrive in a timely manner.
Karsten Kildahl, Managing Director of Maersk Europe, said: "Martin Bencher will be a great fit for Maersk and our integrator strategy, enhancing Maersk's ability to provide project logistics services to customers around the world. When Martin Bencher joins Maersk, we will be able to provide highly reliable , good performance and a strong focus on health, safety, security and environment (HSSE) project logistics services. In addition to supporting the project logistics needs of existing customers, we are also able to provide a more comprehensive service to a wider range of industry customers.”
In addition to acquiring Martin Bencher, Maersk also launched a new product - Maersk Project Logistics. This will strengthen Maersk's existing project logistics services, providing professional services to the global logistics industry.
Such services require transportation management capabilities and deep technical expertise in specific supply chain elements, such as handling oversized and special lift loads, conducting road surveys, scheduling deliveries, and equipping on-site unloading and assembly equipment.
Project logistics is no stranger to Maersk. In Europe and North America, Maersk project logistics has a certain degree of competitiveness. In order to further develop and provide customers with more mature products and services, the existing business will be integrated into a global product, which will benefit customers even more.
Maersk believes that a strong project logistics solution is a key factor in meeting customers' logistics needs. Industries requiring project logistics services include renewable energy, pulp and paper, power generation, mining, automotive, aid and relief, government contract logistics, and industrial manufacturing.
The acquisition is subject to relevant regulatory approvals and will close the transaction (expected to be in late 2022 or the first quarter of 2023) after relevant approvals are obtained. Maersk and Martin Bencher remain separate companies until the deal closes. Their business will continue to operate as usual with no impact to employees, customers or suppliers.
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