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Tag: acquisition

Stow Robotics acquires iFollow

Posted on by David Priestman

Stow Robotics, stow Group’s warehouse automation business unit, has acquired a majority stake in iFollow SAS, a collaborative autonomous mobile robot company.

Reinforcing stow’s commitment to warehouse automation, stow Robotics was launched in September 2021, regrouping all existing automated solutions for pallets and totes and related services and teams. Through this newly created and dedicated business unit, stow is building a platform of scalable and innovative automated solutions and continues to invest in ground-breaking technologies such as iFollow’s robot and software offering.

iFollow, founded in March 2017, is a Paris-based robotics company developing and commercialising market-leading autonomous mobile robots and a proprietary software suite. Its present fleet of cutting-edge AMRs and software are suited for a large range of use-cases, such as collaborative picking and in-and-outbound transport. iFollow is currently accelerating the commercialisation and deployment of its AMRs, having already deployed its technology in a wide variety of applications across different industries and building on a promising pipeline.

The acquisition of iFollow is backed by funds managed by Blackstone, stow Group’s majority shareholder. The partnership with iFollow’s management, who remain on board, strengthens and builds on stow Robotics’ clear strategy and leading position in the global warehouse automation market.

Jos De Vuyst, CEO of stow Group, said: “We are thrilled to welcome iFollow to stow Robotics and have been impressed by the entire iFollow team. This is another important milestone for stow Robotics, adding a company that fits perfectly within our portfolio of scalable automation solutions. We truly believe this partnership will unlock significant synergies with our Atlas 2D pallet solution, as well as meaningfully accelerate iFollow’s growth through our commercial network. iFollow shares in our vision for the future and provides the perfect platform for further AMR-based solutions.”

Vincent Jacquemart, co-founder and CEO of iFollow, said: “We are delighted to join forces with stow Robotics, a leader in warehouse automation. We firmly believe this is the right partnership to start iFollow’s next phase of long-term growth, with a reliable, global partner. In addition to its commercial traction, technology-driven approach, and its advanced industrial base, we share with stow the same conviction on the importance of technology in warehouse automation and the future of intralogistics. It’s a very exciting moment for our team, which is looking forward to shaping the industry even further.”

 

Mitsubishi Logisnext acquires Red Diamond

Posted on by David Priestman

Mitsubishi Logisnext Europe B.V. (MLE) has acquired all shares of Red Diamond Distribution Ltd (RDD) in an amicable takeover that will see both companies working closely together in order to drive the expansion of the Mitsubishi Forklift Trucks brand in the UK.

Hans Seijger, Chief Business Development Officer at MLE, explained: “With this step, our company is demonstrating its commitment to growth in key markets such as the UK. Our strategy is to invest and strengthen our network by working with trusted partners, such as RDD who have a project we fully believe in.

“We want to continue that process, moving one step closer to our dealers and building upon the great work that RDD has done in more than doubling our market share over the past nine years. We are hugely respectful of the excellent job that everyone has done throughout this period and want, in particular, to thank Mike Jones, Stewart Gosling, Ben Haseley and Sally Stanley for their contribution to building the business and for their close cooperation during the acquisition process.

“I think it is important to emphasise we are not making drastic changes – we want to develop not disrupt.”

All members of the RDD team will continue in their positions, the only change being that Ben Haseley will replace Mike Jones as Managing Director with Mike supporting the transition as a consultant over the coming months. The move will also see Hans Seijger and Jonas Tornerefelt, Chief Commercial Officer at MLE, join Ben on the RDD Board.

“I’m proud and delighted to be taking on this new challenge,” said Ben Haseley. “I can see potential for strong growth with a highly experienced team here at RDD and a formidable dealer network which is totally committed to the Mitsubishi Forklift Trucks product.”

According to President of MLE, Kazumasa Saito: “We have great faith in the business model created by RDD which has proved so successful. Our aim in making this acquisition is to be even closer to our dealers and increase our footprint in the UK by building upon the existing strong foundations we have already established.

“The acquisition is part of MLE’s strategic decision to enhance the existing market presence in key markets and meets the plans of growth of our parent company, Mitsubishi Logisnext Co. Ltd. We are very thankful to ML for sharing our vision and for supporting us in this very important moment.”

 

Descartes acquires machine-learning provider

Posted on by David Priestman

Descartes Systems Group, a global leader in uniting logistics-intensive businesses in commerce, has acquired Foxtrot, a leading provider of machine learning-based mobile route execution solutions.

Foxtrot’s advanced machine learning algorithms leverage millions of data points collected from vehicles in the field, helping customers reduce last-mile costs, improve customer service and learn service factors that improve route efficiency and on-time performance. The company’s technology complements existing route planning and execution solutions.

“Descartes has been a leader in using advanced technology to extend its world-class route planning and execution solutions for more than 20 years,” said Ken Wood, EVP of Product Management at Descartes. “Advances in artificial intelligence and machine learning are making it possible for us to leverage increasing amounts of ‘real world data’ to better inform our route planning and execution solutions. By combining with Foxtrot, we’re adding a team with deep domain expertise and proven technology that will help accelerate our efforts in this area.”

“Foxtrot enhances our recent investment in GreenMile, as both companies have extensive experience in the retail food and beverage distribution vertical,” said Edward J Ryan, Descartes’ CEO. “We also see an immediate opportunity to leverage Foxtrot’s capabilities across our wider route planning and execution solution suite. We’re thrilled to welcome the Foxtrot employees, customers and partners into the Descartes family.”

Foxtrot is headquartered in San Francisco, California. Descartes acquired Foxtrot for approximately $US4m, satisfied from cash on hand.

TIP acquires Ryder‘s trailer business

Posted on by Keith McKinley

TIP Trailer Services, a portfolio company of I Squared Capital and one of the leading trailer leasing, rental, maintenance and repair providers across Europe and Canada, has signed a deal to acquire the trailer leasing and maintenance business of Ryder Ltd. Ryder Ltd is a leading provider of commercial vehicle rental, contract hire, maintenance, and dedicated delivery solutions in the UK.

TIP will integrate Ryder assets and contracts from its mobile maintenance services division into its existing business in the UK, enriching its fleet with around 3,550 additional trailers and expanding the number of workshops in the UK to 18, which will now include a site in Lichfield and two parking locations in Shepshed and Manchester. The completion of the transaction is expected to take place in June 2022.

Announcing details of this latest acquisition, Bob Fast, TIP President and CEO, said: “Acquiring the trailer leasing and maintenance business of Ryder Ltd is another key milestone in our growth path. It increases our UK & Ireland footprint, allowing us to improve service offering and infrastructure in areas where we have gaps today. It will increase our service offering to customers, expand and diversify our customer base in the UK.”

David Hunt, Vice President & Managing Director – FMS Europe, Ryder Ltd, adds: “With TIP we have found a great partner to guarantee a successful future for the mobile maintenance services part of our business. The acquisition will ensure continuation of the business, no disruption to customers and business partners along with providing 133 Ryder UK employees with continuity of employment.”

“Over the next months, both companies will work on the fleet integration to manage a smooth transition with customers and suppliers,” says Michael Furnival, TIP Vice President UK and Ireland Region. “A significant portion of the Ryder Ltd mobile maintenance services employee base are mobile technicians which will be a great addition to TIP’s maintenance and repair business. We are delighted to welcome the mobile maintenance services staff of Ryder UK into the TIP family.”

CMA CGM Group acquires GEFCO

Posted on by Keith McKinley

The CMA CGM Group, a world leader in shipping and logistics, is acquiring nearly 100% of the capital of GEFCO, a European leader in automotive logistics and international expert in multimodal supply chain. The acquisition has been submitted to competition authorities for approval. However, as part of a special procedure, the European Commission has authorised CMA CGM to acquire the capital of GEFCO immediately, pending the final approval that will take place in the coming months. The acquisition will strengthen the range of logistics services that CEVA Logistics, CMA CGM’s logistics subsidiary, provides to its customers, especially in France and the rest of Europe.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, commented: “The acquisition of GEFCO represents a further step in our development strategy and strengthens our position as a global player in transport and logistics. With GEFCO, our subsidiary CEVA will become the world leader in automotive logistics, having recently enhanced its capabilities in e-commerce logistics with the acquisition of Ingram Micro CLS. We are creating a French leader to serve our customers around the world.”

The CMA CGM Group’s intention is for GEFCO to continue operating in a secure regulatory framework, then to boost its development, especially in international markets, by harnessing the Group’s market-leading technology and logistics capabilities. GEFCO will benefit in the future from CEVA Logistics’ expertise and network, enabling it to expand both its business and its customer portfolio.

The acquisition of GEFCO and its integration within CEVA Logistics will create the world’s leading automotive logistics provider and will reinforce CEVA’s leadership position in contract logistics. Thanks to the addition of GEFCO, CEVA Logistics will continue expanding around the world and strengthening its position in key markets, especially France and the rest of Europe.

GEFCO, a French company, is a European leader in contract logistics and a specialist of the automotive segment. With particular expertise in finished vehicle logistics, the company plays a key role in keeping European automotive production lines running. GEFCO intends to pursue its strong cooperation with its partners, including Stellantis.

The logistics provider has been operating for over 70 years now and also has customers in the aerospace, pharmaceuticals, energy and retail sectors. GEFCO has built a network spanning 47 countries and employs around 11,500 staff around the world – with more than 2,500 of them in France.

With the deal to acquire GEFCO, the CMA CGM Group is moving forward with its plan to develop and provide end-to-end shipping and logistics solutions in order to support its customers’ supply chains.

The Group recently announced the completion of the acquisition of Ingram Micro’s Commerce & Lifecycle Services (CLS) and of Colis Privé. These deals have accelerated the development of CEVA Logistics in e-commerce and in key market segments, such as technology, retail and fashion.

Luc Nadal, GEFCO’s CEO, commented: “With more than 70 years of expertise in industrial logistics, GEFCO is proud to join the CMA CGM Group, an undisputed world leader in maritime shipping and logistics. The project led by CMA CGM will allow GEFCO to continue our activity in a stable environment, will support the transformation we have initiated and will strengthen our development in the years to come. This link between two French companies will bring many opportunities for GEFCO in terms of innovation and sustainable growth, particularly internationally, for the benefit of our customers. I am proud of the work accomplished by all of the GEFCO teams around the world on behalf of our customers, and I am confident in the future with CMA CGM and CEVA Logistics.”

Datalogic acquires Czech algorithm developer

Posted on by Keith McKinley

Datalogic S.r.l. has acquired the entire share capital of Pekat S.r.o. With its registered office in Brno in the Czech Republic, Pekat is a start-up founded by Petr Smid, the majority shareholder of the company, who has developed proprietary algorithms that use machine learning and deep learning for the automation of processes in the manufacturing, transportation and logistics sectors, with further potential for managing retail applications.

Pekat’s product is a highly innovative software based on proprietary algorithms that can be adapted and proposed in different fields of application, and compatible with different devices and platforms. Pekat’s software package perfectly combines with Datalogic’s hardware product lines. The joint offer will allow Datalogic to widen its product range with cutting-edge and easy-to-integrate solutions, to be offered to customers across industries to increase productivity and support their growth. The hardware-agnostic software can be used on third-party devices and platforms at the same time.

“We are excited about this acquisition, aimed at consolidating our machine and deep learning skills and enhance our hardware product range with solutions based on high-performance algorithms,” stated Valentina Volta, Group CEO of Datalogic. “Thanks to Pekat’s know-how and staff, Datalogic will continue to expand its software offering by developing additional algorithms.

“Customers are increasingly implementing automated solutions to enable their workers to focus on more complex and higher-value tasks. Machine learning and deep learning are key technologies to help them achieve this goal. Being able to count on the newly acquired Pekat, at a time of great challenges such as those imposed by the current global scenario, also enables us to evolve towards artificial intelligence (AI) solutions, which will be fundamental in meeting the constantly evolving needs of our customers.

“2022 is a fundamental year for Datalogic as it marks the 50th anniversary of its establishment, which we will also celebrate with the acquisition of Pekat. This acquisition proves Datalogic’s desire to strengthen its position as an innovator and to pursue its growth strategy, always looking for cutting-edge solutions for its customers.”

Petr Smid added: “At Pekat, we believe that tools such as artificial intelligence and machine vision improve the efficiency of processes in a wide variety of industries, with huge benefits for customers. By using artificial intelligence, computer vision and machine learning, automation will make the world better and faster.

“Our technology is independent from application areas and permits autonomous processes in different sectors, from production to transportation and logistics, up to retail. We are proud to join forces with Datalogic to expand the business worldwide.”

The value of the transaction amounts to €16m for the entire share capital, today held by a plurality of shareholders, the majority consisting of the founder and employees of the company, who will become part of the Datalogic Group. The acquisition is financed with available cash of the purchasing entity, without need for additional external sources of financing.

A part of the purchase price will be deposited in escrow and released within an agreed period of time upon the occurrence of certain conditions.

 

Cargotec/Konecranes merger blocked

Posted on by Keith McKinley

The UK Competition & Markets Authority (CMA) has blocked the merger between Cargotec and Konecranes. According to the CMA’s final report issued on Tuesday 29th March, the remedies – which would have removed all overlapping businesses of the two companies and were accepted by the European Commission (EC) – would not be effective in addressing the CMA’s concerns and thus the planned merger between Cargotec and Konecranes cannot be completed.

The completion of the planned merger would have required approvals from all relevant competition authorities. Thus, Cargotec and Konecranes have decided to cancel the planned merger.

Cargotec and Konecranes have obtained clearances for the planned merger from numerous competition authorities. As announced on 24th February, 2022, the EC conditionally approved the planned merger between Cargotec and Konecranes on the basis of the same remedy package rejected by the CMA, which comprised commitments to divest Konecranes Lift Truck business and Kalmar Automation Solutions. In addition, the State Administration for Market Regulation (the competition authority in China) and nine other jurisdictions have approved the planned merger.

In addition to the clearances of the above competition authorities, completion of the merger remained subject to further approvals from various other competition authorities, including the Department of Justice (DOJ) in the United States,  with whom Cargotec and Konecranes have been in continuous dialogue.

In response to feedback received from the CMA during the course of their investigations, the boards of directors of Cargotec and Konecranes carefully considered amending the remedy package offered to the EC further, as well as offering alternative remedy packages to address the concerns raised by the CMA.

The boards of directors did not, however, find any satisfactory solution which would have addressed the concerns of the CMA and which would have been in the best interest of the shareholders of Cargotec and Konecranes, and of the combined company, without jeopardising the rationale of the proposed merger as presented on 1st October 2020.

As a consequence of the CMA’s negative final report, the boards of directors Cargotec and Konecranes have therefore concluded that it is in the best interest of each of Cargotec and Konecranes and their respective shareholders that the merger is cancelled.

Ilkka Herlin, the Chairman of Cargotec, stated: “The Board of Cargotec is convinced that the merger would have created substantial value for the entire industry as well as shareholders by improving sustainable material flow. The combination would have created a strong European company enabling accelerated shared abilities to innovate without harming competition.

“We have done all we could to realise the merger and are disappointed that our plans have had to be abandoned. After a long and extensive regulatory review process and merger planning preparations it is time to shift our full focus on executing Cargotec’s own strategy and value-creation opportunities.”

Christoph Vitzthum, the Chairman of Konecranes, stated: “The combination of Konecranes and Cargotec, as planned and announced on 1st October 2020, would have created a company that would have been greater than the sum of its parts. The merger control process has been extensive and the investigations thorough, and Konecranes Board of Directors is disappointed that the remedy package offered did not satisfy the concerns of all regulators.

“At the same time, we believe that further remedies would have not been in the best interest of Konecranes’ shareholders as they would have changed the strategic rationale of the transaction. Konecranes will continue to drive its strategy and pursue value-creation potential on a stand-alone basis.”

Cargotec and Konecranes will immediately cease the pursuit of the merger and the related processes and continue to operate separately as fully independent companies.

By the end of 2021, Konecranes had booked €56m and Cargotec €57m of merger related transaction and integration planning costs. The total transaction cost estimate of €125m (excluding integration planning costs) remains valid. The final transaction and integration planning costs will be reported when available.

 

Hörmann acquires loading bay competitor

Posted on by David Priestman

Fen-Bay Group, one of the UK’s leading suppliers of industrial doors and loading bays which includes Lincolnshire-based Fen-Bay Services and Doncaster-based Transdek, has been acquired by Hörmann UK.

The move will see ongoing investment in the group, which will now be part of Hörmann, Europe’s largest provider of gates, doors, frames and operators. The sale was facilitated by Duncan & Toplis, one of the East Midlands’ largest independent chartered accountants and business advisers.

Combined, the Fen-Bay group employs 150 people, including over 100 full time engineers who support its 24/7, nationwide service support provision.

Commenting on the acquisition, Wolfgang Gorner, Managing Director of Hörmann UK said: “We are delighted to welcome the Fen-Bay Group to the Hörmann family. We see this as a natural fit and a key part of our drive to increase our footprint in the industrial and service sectors. The Fen-Bay Group with its excellent brand, reputation and nationwide coverage will complement our existing operations, but will allow us to compete even more so in these areas.

“We are also excited to build on the success already achieved by Transdek throughout Europe and we are committed to ongoing investment in the Fen-Bay Group operations. We see great potential moving forward.”

Carl Sedlan, Managing Director of the Fen-Bay Group said: “We already have extensive experience of Hörmann and its strong family values, which resonated strongly with our management team. Everyone is genuinely excited by the opportunities moving forward and becoming part of such a well-known and respected group.”

Duncan & Toplis helped negotiate finer details with the chosen buyer and helped to manage the sale process, the supply of information and supported the completion of the sale along with associated tax advice and financial planning support. Duncan & Toplis Director, Damon Brain, said: “It has been an absolute pleasure to work with Fen-Bay and Hörmann on this sale. Fen-Bay is a renowned and respected company based in our region and we’re pleased to have played a role in helping to secure its future with a committed investor that can support its continued growth and success.”

 

 

 

 

SALTO acquires face recognition company Cognitec

Posted on by Keith McKinley

With Cognitec Systems joining the SALTO Group, the face recognition company will strengthen research, development and market reach for its established product portfolio while working with SALTO on new technologies for expanding biometric markets.

SALTO strategically selected Cognitec to meet market requests for adding face recognition and artificial intelligence technologies to the company’s renowned electronic access control and ticketing solutions. In addition, both companies appreciate a similar innovative work environment and corporate culture.

“Working with Cognitec gives SALTO the opportunity to integrate emerging biometric and AI technologies into our Group products and platforms to create new solutions and services that benefit all of our clients,” said SALTO’s Chief Technology and Innovation Officer Marc Handels.

Cognitec with its established brands will continue focusing on all business relations with its government and commercial clients worldwide through offering the company’s reputable face recognition solutions and customer support. The current office locations and experienced teams remain in Germany, the United States, and Australia.

Cognitec CEO Alfredo Herrera emphasised the importance of a partnership that brings advantages to both companies, and to all existing and future customers: “Becoming part of the SALTO Group allows us to extend our capabilities, market reach and business connections,” said Herrera.

“Since our founding, Cognitec has been the only company worldwide that has worked exclusively on face recognition technologies. SALTO brings an equally focused and excellence-driven corporate history to this alliance. We are ready to reap the mutual benefits of joining our innovative drive and long standing expertise.”

Century Logistics acquired by Metro Supply Chain

Posted on by Keith McKinley

Metro Supply Chain Holdings (UK) Limited, a division of Canadian-based Metro Supply Chain, has acquired Century Logistics, a long-standing third-party logistics provider based in Suffolk, UK.

“We welcome Century Logistics to the Metro Supply Chain team. Century’s wide capabilities and customer-focused culture complement Metro Supply Chain’s strengths as a strategic supply chain solutions partner to some of the world’s fastest-growing and most reputable brands,” explains Martin Graham, Group President of Metro Supply Chain. “This acquisition deepens our operations in the UK and Europe and broadens our service offerings for UK-based customers looking to expand into the United States or Canada.”

For decades, Century Logistics has been integral to helping local and multinational consumer packaged goods brands scale through warehousing, co-packing, ecommerce fulfilment, product repairs and product returns. Managing seven distribution sites, Century Logistics is strategically located along the A14 corridor between the bustling Golden Triangle and the port of Felixstowe, the UK’s biggest and busiest container port.

“Since opening our first commercial warehouse in 1998, Century Logistics’ driving focus has been to invest where our customers need us most, which, in recent years, has meant supporting their significant ecommerce growth,” says Stephen Basey-Fisher (pictured), founder and chairman of Century Logistics. “We’re thrilled to join Metro Supply Chain and be able to offer customers here and abroad a true end-to-end, harmonized experience that will delight their consumers wherever and whenever they shop.”

Metro Supply Chain has been operating in the UK since 2016 when it acquired Evolution Time Critical, a premium provider of 24-hour emergency logistics for companies around the world, with offices in Derby, UK, the United States, Portugal, Germany and China. In 2021, the company expanded operations to include five facilities in Wales dedicated to defence sector logistics. With the acquisition of Century Logistics, Metro Supply Chain manages more than 12 million square feet in over 80 distribution centres across North America and Europe.

“Century Logistics founders Stephen and Ann Basey-Fisher have built an impressive customer-focused operation and we are excited to welcome the full Century team to Metro Supply Chain,” says Chiko Nanji, founder and CEO of Metro Supply Chain. “We look forward to providing greater synergies and opportunities for our UK-based customers who are looking to grow their operations in new geographies and capabilities.”

 

 

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