IMAP is pleased to announce that BosDaalen Materieel B.V. (BosDaalen), a temperature-controlled transport and logistics service provider, has concluded a share transfer agreement to be acquired by LOGISTEED Ltd. (LOGISTEED).
BosDaalen is the result of the merger between CARGOBOSS and Van Daalen Transport in 2021 and is specialized in temperature-controlled transport of perishable goods such as fruits, vegetables, flowers and plants. The company focuses on groupage transport on daily routes from the Netherlands to Germany, Switzerland, and Northern France. Strategically situated facilities in the Netherlands and Germany contribute to its operational efficiency. The company's headquarters, equipped with a 5,000 m2 cross-docking facility, are located in Maasdijk, next to the main fruit and vegetable production area of the Netherlands. Moreover, Maasdijk's proximity to the Port of Rotterdam, Europe's largest port, further enhances the company's logistical advantages. With a team of over 300 dedicated professionals, BosDaalen owns a fleet of approximately 130 trucks and motor vehicles.
LOGISTEED, ultimately controlled by KKR & Co. Inc., is a Japan-based company that operates globally, providing freight forwarding services and general contract logistics services. Founded in 1950, LOGISTEED has established a presence in 28 countries with operations spanning across 808 sites. The company has a workforce of over 46,000 employees. LOGISTEED has set “reinforce and expand overseas business” as a priority measure and aims to further develop their business by adding temperature-controlled consolidated transportation within Europe to their services. The recent acquisition of BosDaalen further solidifies LOGISTEED's position in the Netherlands, building upon their acquisition of Cyber Freight International B.V. in November 2022.
The shareholders of BosDaalen initiated the sale of their shares not only to ensure the long-term continuity of the company, but also in response to various market trends, including consolidation and digitalization, as well as to further increase network density. The temperature-controlled logistics market is expected to grow, driven by the global specialization in food production and year-round demand for non-local products which have increased travel distance for food, the complexity of the food value chains, and the demand for temperature-controlled logistics networks. The Netherlands, with the Port of Rotterdam specifically, is considered the transport gateway to Europe and plays an important role in the distribution of fresh fruits, vegetables, and flowers throughout the continent. The acquisition of BosDaalen propels LOGISTEED into the European temperature-controlled transportation sector, fostering continued expansion across their business domain. Importantly, the wealth of expertise and support from former shareholders Aris van Daalen and Gerard van der Bos, who will retain their roles within BosDaalen post-transaction, will be leveraged to ensure a seamless transition and sustained success.
The IMAP Netherlands team, comprised of Guillaume Petit, Cees van Vliet, Steven Klaren, and Iris Karthaus advised on the sale of BosDaalen to LOGISTEED Ltd. During the process, LOGISTEED was assisted by Pinnacle Inc. The short lines of communication with the advisors from Pinnacle allowed the IMAP Netherlands team to keep the process running smoothly from beginning to end.
IMAP Netherlands carefully prepared the transaction process together with the shareholders. Leveraging its strong understanding of the fundamentals and characteristics of the Transport & Logistics industry, particularly the temperature-controlled transport and logistics market, IMAP Netherlands formulated a tailored transaction approach within an international buyer landscape. As the transaction unfolded, IMAP Netherlands provided unwavering support to the seller, aiding in identifying the best possible partner in a global industry and structuring the best deal.
IMAP Netherlands completed 34 transactions in 2022, including 10 in the Transport & Logistics industry. Over the years, IMAP Netherlands team has gained significant knowledge of the industry and its various submarkets. We are able to deliver substantial value to transactions within this industry by leveraging IMAP’s expertise and its global network of Transport & Logistics industry experts.
Aris van Daalen, co-founder and CEO of BosDaalen commented: “The advisors from IMAP Netherlands have proved to be highly skilful and showed deep personal commitment. Their in-depth knowledge of our market contributed to an efficient process. Mainly thanks to the personal touch of the team, we look back on a successful and pleasant collaboration.”
Gerard van den Bos, co-founder of BosDaalen added: “It was the first M&A experience for us. From the first moment onwards, communication between us and IMAP Netherlands went smoothly. The IMAP deal team was hands-on, flexible and always available at crucial moments. We would definitely recommend the services of IMAP Netherlands”.
