A.P. Moller – Maersk has completed its acquisition of Martin Bencher Group, a Denmark-based Project Logistics expert for approximately $61m.
Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. It is headquartered in Aarhus, Denmark and has a presence in key locations globally through 31 offices in 23 countries, with almost 170 employees.
“With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries. As such, Martin Bencher really is an excellent fit to Maersk and our integrator strategy”, said Karsten Kildahl, regional managing director in Europe of Maersk.
As mentioned in August 2022 by Maersk “with the intended acquisition of Martin Bencher, Maersk will also introduce a new product, Maersk Project Logistics”.
Earlier today the company said that Martin Bencher’s competitive strengths include deep industry expertise, a solid track record, long-term stakeholder relationships as well as a highly skilled organisation.
“Together, we can attain our full potential and will bring the scale, commitment, and capabilities to handle the entire logistics scope of work for clients around the world”, said Peter Thorsoe Jensen, the CEO of Martin Bencher.
The enterprise value of the transaction is approximately $61m on a post-IFRS16 basis, as announced by Maersk on 5 August 2022, assuming an unchanged foreign exchange rate. The enterprise value reflects an EV/Ebitda multiple of 7.1 based on estimated post-IFRS16 Ebitda for full-year 2021, as Maersk says.
