NTG Road Norway AS (“NTG Road Norway”), a partner-driven subsidiary of NTG Nordic Transport Group A/S (“NTG”), has entered into a share purchase agreement regarding the acquisition of 100% of the shares in Saga Trans AS (“Saga Trans”).
Saga Trans was founded in 1985 in Oslo, Norway and specialises in road freight forwarding between Italy and Norway. In the financial year ending 31 December 2019, Saga Trans generated a revenue of NOK 36 million and an EBIT of NOK 5 million.
NTG Road Norway commenced operations on 1 April 2020. The acquisition thus marks an important step in strengthening NTG’s setup in the Norwegian market and demonstrates the ability to accelerate growth in start-ups through bolt-on acquisitions.
“We are pleased to welcome Saga Trans to NTG. The acquisition adds skills and competencies to our existing setup in NTG Road Norway and strengthens our offering in the Norwegian market”, says Jesper Petersen, CEO of Road & Logistics at NTG.
Closing of the transaction is expected on 30 November 2020 and NTG Road Norway and Saga Trans are expected to merge during the first quarter of 2021. The combined operations will continue in the existing subsidiary, NTG Road Norway.