NTG continues busy acquisition streak with the acquisition of ITC Logistic GmbH.

Exciting German acquisition
NTG Germany GmbH, a subsidiary of NTG Nordic Transport Group A/S, has today signed an agreement to acquire German-based ITC Logistic GmbH. ITC specialises in delivering bespoke road and logistics solutions to a portfolio of long-standing customers. ITC is well positioned as a full-service, end-to-end solutions provider offering groupage, FTL, LTL, comprehensive logistics services, and a suite of value-added services. Operating from five strategic locations in Germany, ITC employs approximately 210 employees.

Strengthened market position and unlocking synergies
The acquisition strengthens NTG’s position in the German market and complements its recent acquisition of the Schmaltz+Schön Logistics Group. Together, NTG, Schmaltz+Schön, and ITC will form a robust platform for further organic growth and bolt-on acquisitions across Germany. Additionally, the acquisition will unlock synergies for NTG, primarily driven by operational and commercial optimisation as well as cross-selling opportunities.

For the financial year 2023, ITC reported EUR 80.4 million in revenue and EUR 11.4 million in EBIT. The transaction values ITC at EUR 56.9 million on a cash and debt free basis, with potential earn-out payments of up to EUR 3.6 million in 2026. NTG expects to achieve EUR 2.3 million in synergies once ITC is fully integrated.

Wolf-Peter Korth, owner and member of the Board of Directors at ITC, says: “Joining NTG is an ideal fit for us, and we look forward to expanding our offerings and continuing our success with their global scale.” Jesper Petersen, CEO of Road & Logistics at NTG, adds: “We are really excited to welcome ITC to the NTG family, which complements our German operations and enhances our position in Europe.”

About ITC Logistic
ITC is a German freight forwarder offering tailored solutions primarily in road and logistics. Headquartered in Koblenz, ITC operates 4 additional sites across Western Germany and employs around 210 employees. For further information, please visit www.itc-logistic.com.

The transaction is subject to merger control approval and is expected to close before the end of 2024.

For further information, please check the NTG Company News on Nasdaq or 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