NTG Road Norway AS (“NTG Road Norway”), a partner-driven subsidiary of NTG Nordic Transport Group A/S (“NTG”), has entered into an asset purchase agreement regarding the activities of Kontinent Transport AS (“Kontinent Transport”).
Kontinent Transport was founded in 1990 in Oslo, Norway and specialises in road freight forwarding between Continental Europe and Norway. In the financial year ending 31 December 2021, Kontinent Transport generated a revenue of NOK 69.5 million and an EBIT of NOK 0.5 million.
NTG Road Norway commenced operations on 1 April 2020. The acquisition of Kontinent Transport is the second bolt-on acquisition completed since inception, and NTG Road Norway now operates key trade lanes between Norway and Germany, Switzerland, Benelux, Italy, Turkey, as well as multiple Eastern European and Balkan countries.
“The previous bolt-on acquisition in Norway, completed in late 2020, became a testimony to the capabilities of the Norwegian team to integrate and develop new businesses. Whereas the first acquisition added specialist competencies on the trade lane between Norway and Italy, we now expand these competencies to encompass Continental European markets, too. We are pleased to welcome the employees of Kontinent Transport to NTG and look forward to a prosperous collaboration”, says Jesper Petersen, CEO of Road & Logistics at NTG.
Signing and closing of the transaction occurred today, 1 July 2022. The activities of the two companies have been combined as per the same date, and all operations will continue in NTG Road Norway.
For additional information, please contact:
Christian D. Jakobsen, Group CFO +45 42 12 80 99
Mathias Jensen-Vinstrup, Executive Vice President +45 42 12 80 90