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Marinetrans and Best Global Logistics join forces

By September 17, 2019 No Comments

PRESS RELEASE 

Marinetrans and Best Global Logistics join forces

Lijnden, 12 September 2019 – After many years of successful cooperation, ship spare parts logistics company Marinetrans and freight forwarder Best Global Logistics have decided to join forces.

The operations, legal entities, management teams and shareholders of Marinetrans and Best Global Logistics will be combined into one group under a new joint holding company: Global Transport Solutions (GTS), which will have its headquarters in the Netherlands. To further accelerate its strong historical growth, GTS has decided to team up with financial and strategic partner Waterland Private Equity Investments. The merger of the two companies and addition of Waterland as a new shareholder will enable GTS to execute an international buy & build strategy to achieve accelerated growth.

GTS will continue to accelerate the growth path followed by Marinetrans and BGL in the past few years. In addition, it will focus on expanding the transport and warehouse network of the two companies, open new offices worldwide to better serve customers locally in commercially attractive countries, and invest in its proprietary IT platform, innovation and integration. In addition, GTS will focus on acquiring other companies in the same or adjacent markets to strengthen its competitive position and expand its market share.

Waterland will obtain a majority stake in the newly formed logistics group, complemented by the former shareholders of BGL and Marinetrans. The current senior management team of Marinetrans and BGL will remain unchanged. Michel Loots (former BGL co-CEO), John Burgstra (former BGL co-CEO), Jorgen Fausko (former Marinetrans CEO) and Vegard Prytz (former Marinetrans CFO) will form the management board of GTS.

Jørgen Fausko, founder and CEO of Marinetrans, commented on the transaction: “We are excited about combining BGL and Marinetrans and teaming up with Waterland, who we believe is the right partner for BGL and Marinetrans to accelerate the combined companies’ growth and continue their track record of solid organic expansion.”

According to Michel Loots, co-founder and co-CEO of BGL, “BGL and Marinetrans are strongly intertwined and have a long history of mutual cooperation. The combined deal of BGL and Marinetrans with the support of Waterland is an important step for both companies. We see great opportunities to grow our combined business in cooperation with Waterland who – with its active buy-and-build approach and experience in the logistics sector – will enable us to strengthen our position in the international logistics market.”

Hans Scheepers, managing partner of the Dutch Waterland office, adds: “Waterland is proud to team up with Marinetrans and Best Global Logistics given their combined market leading position and strong track record. We are keen to help the newly merged group to expand its position through consolidation of the ship spare parts logistics market, expansion with complementary freight forwarding services and  acceleration of its organic growth by further gaining market share.”

About GTS (Marinetrans and Best Global Logistics)

Marinetrans is the world’s largest fourth-party logistics service provider (4PL) specialized in marine spare parts forwarding and logistics. The company is headquartered in Singapore and has 6 additional offices around the globe. Through a network of dedicated partners, Marinetrans uses 22 warehouses and provides services in 2,000 ports worldwide.

Best Global Logistics is a Dutch independent third-party logistics service provider (3PL) offering relatively complex logistics solutions on a global scale. The company operates two bonded and free-zone warehouses located in Lijnden (Amsterdam airport) and Rotterdam in the Netherlands. BGL has a strong foothold in the maritime industry, while also serving a range of other industries.

About Waterland

Waterland is an independent private equity firm founded in The Netherlands in 1999. Businesses supported by Waterland are led by ambitious management teams that have a proven track record of fostering growth. Waterland is actively involved as a shareholder and supports management teams to achieve their ambitions by providing growth expertise and knowledge on the execution of successful buy & build trajectories. To date, Waterland has raised seven investment funds with a combined € 6 billion in assets under management, has executed more than 650 acquisitions in more than 100 different markets and has offices in seven European countries.