NTG Nordic Transport Group A/S (“NTG”) has signed an agreement to acquire a stake in Asia-based Freightzen Logistics Ltd., Inc. (“Freightzen”), through the newly established company, NTG APAC Holding Pte. Ltd (“NTG APAC”).

Founded in 2018 in Bangkok, Thailand, Freightzen delivers personalised and customised logistics solutions by air and ocean, with strategically located offices in Thailand, Vietnam, and Malaysia. Freightzen currently serves as NTG’s trusted partner in its countries of operation. Together with their team, the managing directors and shareholders of Freightzen, Jimmy Jensen and Peter Winther Christensen, have significant experience with and a proven track-record of building Air & Ocean operations within the Asia-Pacific (“APAC”) region.

Freightzen employs 41 people in total. The acquisition will have limited impact on NTG’s consolidated financial accounts.

At closing of the transaction, NTG’s existing subsidiaries in Japan, China, and Hong Kong will be transferred to NTG APAC. Jimmy Jensen and Peter Winther Christensen will jointly hold 40% ownership in NTG APAC, in accordance with NTG’s ring-the-bell partnership model, with Jimmy Jensen as CEO of Air & Ocean, Region APAC, and Peter Winther Christensen as Head of Procurement, Region APAC.

The acquisition of Freightzen and the addition of two experienced partners and their teams with extensive APAC expertise are decisive steps in developing NTG’s Air & Ocean division, enhancing our network and broadening our footprint within the APAC region.

Mathias Jensen-Vinstrup, Group CEO at NTG, says: “This acquisition is a clear testimony to our commitment, enthusiasm, and vision to invest in the APAC region and to grow that area of our business in the future. We are delighted and honored to have Jimmy, Peter, and the rest of the Freightzen colleagues join our team, who will help us develop and expand our Air & Ocean operations in the APAC region going forward. We are excited to speed up our efforts and seize the huge potential we see in this region.”

Jimmy Jensen, Founder and Managing Director of Freightzen, says: “Joining NTG is a strategic and cultural fit for Freightzen, aligning perfectly with our ambitious growth plans for the Asia-Pacific region and beyond. Along with my Freightzen colleagues, I am excited to join forces with the experienced individuals of NTG in Asia-Pacific, and to accelerate the development of our joint APAC operations going forward.”

Signing of the transaction occurred today, 19 July 2024. Closing of the transaction is expected within two months.

For additional information, please contact:

Christian D. Jakobsen, Group CFO
+45 42 12 80 99 | ir@ntg.com

Birgitte Hansson, Head of Marketing & Communication
+45 42 12 80 90 | press@ntg.com