Connect Corporate Finance supports with Scan Global Logistics’ ongoing international expansion strategy, furthering its presence in the UK marketplace through the recent acquisition of market-leading logistics provider, Horizon International Cargo.
With three decades of industry pedigree, Horizon International was established in 1991, starting with just three employees at its headquarters in London Heathrow. Since inception, Horizon has continuously expanded its service offering to include traditional Air & Ocean freight forwarding services, as well multiple service add-ons such as warehousing and E-Commerce, to deliver end-to-end supply chain solutions. Experiencing exponential growth, Horizon has grown to be one of the largest privately held forwarders left in the UK market, with additional presence overseas through offices in Asia, Europe and North America.
Horizon’s established UK presence was considered an excellent acquisition target for SGL, with Connect engaged by SGL, on the basis of identifying market entrance opportunities within the UK mid market. Following a strategic market mapping exercise, it became apparent that there were only a handful of suitable targets based on the specific remit outlined. SGL pursued the acquisition of Horizon, as it would propel their plans to expand the group’s European footprint, whilst integrating with their current offering.
The addition of Horizon will enable SGL to target new revenue channels and signifies a market breakthrough in the second largest market for freight & logistics in Europe. With multiple synergies, SGL will utilise Horizon’s key trade lanes in air & sea forwarding, whilst diversifying its client base and overcoming post-Brexit restrictions, with access to import and export customs experts.
Allan Melgaard (CEO of SGL) A strong cultural fit is an essential step in SGL's acquisition strategy. Allan Melgaard, Group CEO, explains how the evident fit will strengthen the expanding family in several locations
"To ensure there is a cultural fit between our organizations, we perform an extensive cultural DNA study before concluding the process. In the case of Horizon, the cultural match is unquestionable. Also, our shared belief of the customer in focus provides the best possible basis for a successful amalgamation of the two companies. We are very pleased to welcome all Horizon staff members throughout the world to the SGL family", Allan Melgaard emphasizes
David Roberts (Director, Head of Freight transactions at CCF)
"This marks a third deal with trusted client Scan Global Logistics, who before now had no presence in the UK. I am exceptionally pleased we were able to lead this deal and provide SGL with such an established foothold in the UK.
Horizon International under the thirty-year ownership of Nigel Davies is one of the largest and most distinguished, privately-owned logistics and global supply chain companies in the UK.
Working with Allan Melgaard & Claes Pedersen to deliver this deal has been fantastic and I know they will do the entire Horizon team and Nigel proud in their future endeavours as an SGL group company."
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