Link Logistics and YOYO Global Freight joins forces to accelerate growth and internationalisation
Link Logistics strengthens the Danish core business and accelerates its internationalisation with the acquisition of YOYO Global Freight, which is a leading Danish freight forwarding and logistics company. YOYO provides courier service and sea, air and land transport for companies with a particular focus on the high-end industrial segment.
The merger of YOYO and Link Logistics creates the leading Nordic logistics partner in express transport with expected 2021 revenue exceeding DKK 600 million and expected operating profit (EBITDA) of around DKK 40 million, 170 employees and locations in Brøndby, Fredericia, Aarhus, Odense, Aalborg, Gothenburg and Stockholm as well as offices in Norway and the US. The transaction is conditional on approval by the competition authorities.
”We look forward to cooperating with our skilled new colleagues to create an even stronger joint platform through expansion of our own business and acquisitions of attractive companies that can contribute to our growth strategy. Together, we will have the size and muscle to accelerate the international expansion by investing in our sales organization, the digital future and sustainability as well as expanding with new terminals and offices in existing and new markets,” says Anders Martens, CEO of Link Logistics.
In the wake of COVID-19, the international express freight and courier service markets are expected to grow at a rapid pace due to high demand from consumers and normalization in a number of key industries. The transaction offers obvious opportunities for cross-selling of complementary services and products in Link Logistics and YOYO. Both companies focus on employees, IT platform and customer service, offering highly valuable and bespoke solutions to customers in international courier services and air, sea and land transport.
”Satisfied customers and orderliness are cornerstones of the culture in YOYO and Link Logistics, and we therefore look forward to joining forces and generating even more value as one strong international logistics partner with the skillset to manage the increasing complexity for our customers. We want to be ahead of the development and provide personal and bespoke high-quality service to our customers, and we will be even stronger positioned in the future after the merger,” says Kasper Andersen, co-founder and CEO of YOYO.
The acquisition of YOYO is completed following Polaris’ acquisition of Link Logistics towards the end of 2019 with a view to accelerate growth through continued organic growth and a focus on acquisition opportunities across Europe, the USA and Asia.
YOYO’s management continues as part of the management of Link Logistics, and the ownership change does not entail changes in customer relationships or terms. In connection with the transaction, YOYO’s management will invest in Link Logistics. The parties have agreed not to disclose the purchase price.
Anders Martens, CEO of Link Logistics
About Link Logistics (www.linklog.com)
Link Logistics is the leading independent Nordic courier specialist within express transport with global agreements with the largest suppliers. The company has 95 employees and terminals in Aarhus, Brøndby, Fredericia, Gothenburg and Stockholm. In 2020, Link Logistics generated revenue of DKK 280 million and operating profit (EBITDA) of DKK 22 million.
About YOYO (www.yoyoglobal.com)
YOYO Global Freight was founded in 2009 and is currently a leading Danish freight forwarding and logistics company with terminals in Odense and Aalborg as well as offices in Copenhagen, Oslo, Stavanger, Gothenburg and New York. The company has 75 employees working to make freight and logistics as simple and easy as possible. In 2020, YOYO generated revenue of DKK 259 million and operating profit (EBITDA) of DKK 12 million. In 2017-2020, YOYO generated an average annual growth rate of 44% driven by organic growth and acquisitions.
About Polaris – The Power of Partnership (www.polarisequity.dk)
Polaris is a Nordic investment company based in Copenhagen, which invests in and provides flexible capital to well-established medium-sized companies in the Nordics. Since its foundation in 1998, Polaris has raised five funds and obtained capital commitments of EUR 1.7 billion. Polaris’ focus is to invest in companies with growth and development potential. To date, Polaris has invested in 48 companies and completed more than 80 add-on investments. Polaris currently owns 17 companies with total revenue of over EUR 1 billion and a total of 5,000 employees.