DSV - DSV acquires Ontime Logistics AS
DSV has signed an agreement to acquire the entire share capital of Ontime Logistics AS, which has activities in Norway, Sweden and Denmark.
Ontime Logistics AS offers transport and logistics services, mainly related to road transport. The company has 220 employees and eight offices in Norway, five in Sweden and two in Denmark. In 2012, Ontime Logistics AS generated revenue of approximately DKK 600 million from the business activities that are expected to continue.
"The acquisition of Ontime Logistics AS adds to our strong position in the Nordic road market. Furthermore, Ontime Logistics AS has a solid position in the Norwegian domestic market, which we see as an attractive benefit that will improve the range of services offered by DSV to both existing and new customers," says CEO Jens Bjørn Andersen.
The agreement is subject to certain conditions including approval by the competition authorities. The parties have agreed not to disclose the transaction price.