Danish freight intermediary Scan Global Logistics has made the largest investment in its history, agreeing to acquire Portland, Oregon-based logistics provider OIA Global in a deal it said late Wednesday that would put the company among the top 20 freight forwarders in the world.
Scan Global Logistics said the proposed acquisition will strengthen its presence in key markets and expand supply chain capabilities available to customers beyond traditional freight forwarding.
Founded in 1988, OIA Global employs more than 1,200 people across more than 60 offices in over 30 countries. Its capabilities span freight forwarding, customs brokerage, contract logistics, project logistics, prime contractor management, packaging design and materials management. OIA had $780 million in revenue last year.
Scan said the acquisition will complement its existing offering while significantly strengthening its position in the United States and other strategically important markets. The combination will also provide customers access to a broader range of supply chain solutions, making it easier to manage increasingly complex supply chains.
Why It Matters: Acquisitions, mergers and investments in the logistics industry have accelerated this year, especially in the United States, as the freight cycle turns more positive.
Armstrong & Associates ranks Scan as the 19th largest freight forwarder in the world based on gross revenue and ocean/air volume. It is near the top 50 logistics providers by gross revenue. Full-scale logistics providers provide warehousing, distribution and supply chain management in addition to arranging freight transportation for cargo owners.
Scan has rapidly expanded since 2018 through a series of acquisitions in Africa, Europe, and North America, and has also opened offices in several other countries. In 2021, it bought the international forwarding division of U.S. trucking giant Werner Enterprises. Scan has more than 5,100 employees and operates more than 200 offices around the world.
The company had $2.82 billion in revenue last year. Adjusted earnings before interest, taxes, depreciation and amortization was up 12% year over year to $244.2 million. Scan lost $101.5 million, which management attributed to refinancing of debt and financing the acquisition of ITN Logistics Group in Canada.
The OIA transaction is subject to customary regulatory approvals. Terms of the deal, which is expected to close in the first quarter of 2027, were not disclosed.
Click here for more FreightWaves/American Shipper stories by Eric Kulisch.
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