Clearwater International Denmark has advised international transport and logistics provider Transcargo A/S. International Transport & Spedition (Transcargo), on its sale to transport solutions provider FREJA Transport & Logistics Holding A/S (FREJA).
FREJA delivers individually tailored transport solutions by land, sea and air. The group has approximately 600 employees and annual revenue of c. €320m.
Founded in 1994 and headquartered in Padburg, Denmark, Transcargo is a provider of transport solutions with a strong foothold in Eastern Europe. The company is well established in the temperature-controlled transport sector and is amongst market leaders on the transport routes from Denmark to Poland and Greece. Transcargo has approximately 140 employees and annual revenue of c.€65m.
Transcargo was owned by Founders Bjarne Sell Hansen and Henrik Jürgensen, CEO Torben Mortensen and a number of minor shareholders. Torben Mortensen will continue as branch manager in Padburg and as manager for the Polish company. Consequently, he joins FREJA’s group of directors. Henrik Jürgensen will continue his present job as traffic manager with focus on Greece. Torben Mortensen and Henrik Jürgensen will continue as shareholders in FREJA, while Bjarne Sell Hansen enters the board in the Polish company.
The transaction remains subject to approval by the relevant competition authorities.
The Clearwater International team consisted of Partner John Jensen, Associate Partner Lars Rau Jacobsen, Associate Director Louise Kamp Nørbæk and Associate Jesper Pedersen.
Torben Mortensen, former owner and CEO, Transcargo
Bjarne Sell Hansen, former owner, Transcargo
Partner John Jensen, Clearwater International