CVC Nears Deal to Acquire Logistics Firm Scan Global

  • In Business
  • 2023-02-04 17:58:18Z
  • By Bloomberg

(Bloomberg) -- CVC Capital Partners is nearing a deal to acquire Danish transport company Scan Global Logistics, people familiar with the matter said.

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The private equity firm is working through the final details of an agreement with Scan Global's owner, AEA Investors, the people said, asking not to be identified discussing confidential information.

A deal could be announced as soon as this month, according to the people. Deliberations are ongoing and could also still falter, they said.

Copenhagen-based Scan Global on Saturday confirmed in a filing that "discussions are ongoing regarding a potential divestment of SGL International A/S by its shareholder AEA Investors." It didn't disclose the name of the buyer and added that there is no certainty the transaction will occur.

Representatives for CVC and AEA declined to comment.

Scan Global is an asset-light freight forwarding and logistics company employing more than 3,300 people, according to its website. It offers services including supply chain management, arranging air and ocean freight, fulfillment, customs clearance and warehousing.

Bloomberg News reported last year that AEA, a New York buyout firm that traces its roots to the Rockefeller and Mellon family fortunes, had been working with Barclays Plc on the potential divestment of Scan Global.

AEA acquired the company in 2016 and merged it with Seattle-based freight forwarder TransGroup Worldwide Logistics. AEA has since grown the business through further acquisitions, buying Horizon International Cargo Ltd. to expand in the UK and taking control of Mali's Macca Logistics to boost its African presence.

--With assistance from Aaron Kirchfeld, Frances Schwartzkopff and Victoria Cavaliere.

(Updates with SGL filing in 4th paragraph)

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©2023 Bloomberg L.P.


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