Wincanton strengthens German high-tech logistics operations
British logistics service provider Wincanton plc has acquired Germany’s HeBo GmbH for an initial debt-free consideration of 2.9 million euros ($4.4 million). That amount could rise by another 500,000 euros subject to HeBo’s financial performance in the year to March 31 2009.
Dusseldorf-based HeBo specializes in providing logistics services to the high-tech industry in the North Rhine-Westfalia region. The company employs about 50 people and, in the year to Dec. 31, reported, on a pro-forma basis, operating profit of 400,000 euros ($584,000) on a turnover of about 3.2 million euros ($4.7 million).
“Wincanton has a strong track record of growth, both organic and through acquisition,” said Graeme McFaull, Wincanton’s chief executive. “We continue to enhance the scope and scale of our operations with acquisitions such as this that broaden our sector expertise and reinforce our geographic presence in key markets.”