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Acquisition expands GAC's European operations

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    9 January 2012

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9 January 2012 - The GAC Group has further expanded its Nordic ship agency, liner agency and project logistics network with the acquisition of all the shipping subsidiaries of the Lehmann Nordic Group (LN), one of the region's oldest transportation groups. The move brings to the GAC team more than 45 staff at 5 offices in Denmark (two in Copenhagen and one in Aarhus), Sweden (Gothenburg) and Norway (Oslo).

Since its establishment in Copenhagen in 1900, LN has grown from a local customs clearance and freight forwarding company into a leading global ship and liner agent operating a robust Scandinavian network with worldwide connections.

Under the agreement signed by GAC Group President Lars Säfverström and LN Group Chairman Søren Halsted, GAC now has full ownership of LN's three shipping subsidiaries - Lehmann Shipping A/S (consisting of: Lehmann Junior A/S, Joship AB, Transweco Projects & Chartering AB, Transweco AB, Transweco Agency AB and Scanweco AS), Christian Jensen Shipping A/S and Lehmann Shipping Center A/S - with effect from 3 January 2012.

Nordic Development
Ivo Verheyen, GAC Group Vice President - Europe, says LN's standing in the regional market and strong client-base of major international and domestic ship owners, managers and operators will strengthen GAC's overall coverage of the Nordic region and neighbouring countries.

"Until now, GAC has been working in the region through partners and agents. The time is right for us to finally establish our own presence here to ensure stricter control and consistency of standards," he adds.
"LN has a long-standing track record in ship agency, liner agency and project logistics, all areas in which GAC is strong, both globally and regionally. By integrating LN's business into the GAC global network, we will be able to combine our resources, experience and expertise to better serve these sectors."

Halsted says that both clients and employees will benefit from this strategic move which puts one of the world's most far-reaching ship agency networks at their disposal, offering a wider range of value-added and innovative services.

Following the disposal of its shipping subsidiaries, LN is left with its interests in terminal- and logistics activities in the Port of Aarhus.

Common Values
Säfverström says the two companies have much in common: "GAC and LN are highly compatible in terms of service offerings, business philosophy, ethics, entrepreneurial ambitions and corporate values. The qualities we share will help facilitate a smooth integration."

European acquisitions 
The latest acquisition puts GAC in an ideal position to strengthen its existing operations in Norway and forge new territories in Denmark and Sweden.

It is the latest in a series of successful European acquisitions by GAC in recent years, including John Nurminen Navis Oy in Finland (2010), OBC in UK and Rotterdam (2008), Ole R Olsen in Norway (2007), and Benair in UK (2005). 

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