NTG acquires SCHMALZ+SCHÖN in Germany

NTG Germany, a fully owned subsidiary of NTG Nordic Transport Group A/S, has signed an agreement to acquire 100% of the shares in German-based SCHMALZ+SCHÖN Holding GmbH.

Founded in 1959, Schmalz+Schön Holding (SSH) specialises in road and logistics services, offering tailored solutions to complex challenges for its long-standing customer base. Known for high quality and reliability, SSH operates from its headquarters in Stuttgart and 27 additional sites across Germany, with key hubs in Stuttgart, Bautzen, Hamburg, Berlin, and Frankfurt.

In addition to its road and logistics services, SSH provides air and ocean freight services, contributing around 15% of total revenue. The company employs around 330 white-collar staff.

For the financial year ending 31 December 2023, Schmalz+Schön reported EUR 153.3 million in revenue and an EBIT of EUR 10.4 million. On an adjusted basis, SSH is expected to contribute with approximately EUR 5.5 million excluding synergies., which may impact on NTG’s financial outlook for 2024.

Clear Strategic Benefits
The acquisition of Schmalz+Schön marks a significant milestone for NTG, doubling its revenue in Germany and significantly strengthening its road and logistics network. SSH’s company culture, decentralised operating model, and core values align with those of NTG, providing a strong foundation for future growth in the German market.

Jesper Petersen, CEO of Road & Logistics at NTG, comments:
– “We are thrilled to welcome the Schmalz+Schön team to NTG. This acquisition underscores our ambition to expand and strengthen our European footprint in the Road & Logistics division. With the addition of SSH, we significantly enhance our presence in Germany and boost the development of our Continental European operations. SSH’s heritage, groupage capabilities, and strong customer relationships are a testament to their success, and I am confident that this partnership will unlock numerous future opportunities.”

Frank Penkwitt, owner and member of the Board of Directors, Schmalz+Schön Holding, comments:
– “SSH and NTG are a perfect match, united by shared values both corporately and personally. Ensuring stability and continuity for our cherished employees, customers, and partners was paramount in this decision. I am deeply grateful for the employees’ unwavering loyalty and support throughout the years, and I am excited to continue my journey with Schmalz+Schön as we join the NTG family. With NTG’s global scale and geographical reach, we enhance and expand our offerings to deliver even better solutions for our customers in the future.”

About SCHMALZ+SCHÖN Logistics-Group
Schmalz+Schön is a German freight forwarder offering tailored customer solutions primarily in road and logistics. Headquartered in Stuttgart, SSH operates 27 additional sites across Germany and employs around 330 white-collar employees. For further information, please visit www.schmalz-schoen.com/en.

Signing of the transaction occurred today, 2 August 2024 and closing is expected within three months.

For additional information, please check Nasdaq | NTG Company News 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

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