The Björk.Eklund Group acquires 16 NTN companies

Sweden's Björk.Eklund Group has acquired 16 companies that were until now part of the well-regarded Norwegian Transport Network (NTN) Group. The deal was concluded on 30 December 2009 but discussions continue with at least two of these 16 companies' management teams regarding the possibility of management buy-out deals (MBOs).

NTN was the largest independent logistics network in Norway and a leading international service provider of logistics services in the Nordic area. With its origins dating back to 1849, it is also one of Norway's oldest transport companies.

By the end of 2009, NTN was present in ten countries and it conducted its activities through over 30 fully-owned companies and a global network of partners, enabling it to offer its clients a wide range of logistics solutions suited to their needs. The Björk.Eklund Group shares with NTN the ability to offer a full range of logistics solutions including worldwide door to door cargo services and the belief that this should all be possible via one point of contact.

According to Stefan Björk and his partner, Björn Eklund, the Björk.Eklund Group management team felt that many of the NTN companies would offer an effective fit with existing Björk.Eklund companies, so strengthening and giving new opportunities to the fast-growing Gothenburg-headquartered group:

"Together with these NTN companies, we will become an even stronger force in the Scandinavian market. We will have offices in more locations and hence a more dominant position in the Nordic-Baltic region.

"We have acquired the majority but not all of the companies in the NTN Group and have offered positions to around 250 of its staff."

The 16 companies being acquired by the Björk.Eklund Group are: -

- Arealog OY,
- Asia Maritime Logistics Pte Ltd.
- Bergen Cargo A/S,
- Birger Ekerholt A/S,
- NTN Denmark A/S,
- NTN Larvik Logistkcenter A/S
- NTN Latvia SIA,
- NTN Lithuania UAB,
- NTN Shipping A/S,
- Nordic Wave AB,
- Nordicon AB,
- Schiander Moss Shipping A/S,
- Schianders Shipping Drammen A/S,
- Schianders Intersped A/S,
- Schianders Intersped AB, and
- Ths Arbo Högh & Co A/S.

Contacts:
Stefan Björk
+46 708 85 00 29

Björn Eklund
+46 708 85 00 19

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