13 April 2021
NTG Ebrex UK Ltd (“NTG Ebrex”) has entered into a share purchase agreement regarding the acquisition of 100% of the shares in Twente Express Limited (“Twente”).
Twente, a UK-based freight forwarding company founded in 1983, specialises in daily door-to-door parcel and pallet deliveries and collections to and from the Benelux area, as well as freight forwarding services to and from worldwide destinations. Twente operates from a distribution centre in Brownhills in the West Midlands, a significant industrial hub in the UK, with depots at Enschede and Dordrecht in Holland and Gent in Belgium.
In the financial year ending 31 December 2020, Twente generated a revenue of approximately GBP 5.4 million and an EBIT of approximately GBP 150,000, the latter including effects of COVID-19 furlough grants of approximately GBP 100,000.
Twente is a trusted partner of NTG Ebrex with daily departure schedules that mirror those of NTG Ebrex’ current setup between the UK and Germany, where NTG Ebrex operates daily roundtrip services. NTG Ebrex and Twente operate across the same core region of the West Midlands and share the core values of customer service and operational excellence.
“With the acquisition of Twente, the Benelux area is added to the regions to and from which we offer dedicated express freight services in NTG Ebrex in the UK. Twente is a long-standing partner of NTG Ebrex, and with its 37 years of experience, we consider Twente as a market leader in express freight services between the UK and Benelux region. We look forward to welcoming the employees, customers, and partners of Twente to NTG and to strengthen the position as customers’ preferred partner for express freight services between the UK and Germany, Holland, Belgium and Luxembourg”, says Jesper Petersen, CEO of Road & Logistics at NTG.
The combination of the two entities will support the continued development of the European road freight, UK domestic freight, and international freight forwarding services to existing and new customers.
Signing and closing of the transaction occurred today, 13 April 2021, and the activities of Twente will be consolidated into NTG Ebrex as soon as possible.
For additional information, please contact:
Christian D. Jakobsen, Group CFO
+45 76 32 09 89
Mathias Jensen-Vinstrup, Group Director
+45 76 32 09 90