Jetpak acquires CTS Express
Jetpak Top Holding AB (publ) has through its subsidiary Jetpak Group AB today signed an agreement to acquire all shares in the Danish express logistic company CTS Express Holding ApS, including its three subsidiaries, with closing on the 3rd of January 2022.
The initial acquisition amount is 10.0 MDKK (equivalent to circa 13.9 MSEK) on a cash and debt-free basis. In addition, an additional purchase price of maximum 6.0 MDKK (8.34 MSEK) may be paid. The additional purchase price is dependent on the acquired company's EBITDA for the financial year 2022. The acquisition is cash based.
CTS Express, www.cts-express.com, is an express logistic group based in Denmark with its head office in Copenhagen/Kastrup and the company is also established in Jutland/Billund. The group has 16 employees and a yearly consolidated revenue of approximately 40 MDKK (56 MSEK) and with a forecasted EBITDA for 2021 amounting to 1,8 MDKK (2,5 MSEK).
CTS Express deliver time critical logistic solutions for the B2B market, based on air and courier transports, integrated with freight forwarder solutions. CTS Express operate a Nordic and European network with currently circa 30 subcontracted courier vehicles, with additional ad-hoc courier capacity.
“The acquisition of CTS Express is an important step towards ensuring Jetpak’s future growth and strategic position in the Nordics. CTS Express have positioned themselves as a strong player within specialized express logistics, and I look forward to continue the Jetpak journey together with the CTS Express team”, says Jetpak’s CEO Kenneth Marx.
Current management and employees of CTS Express will be an important part of expanding CTS service offerings into other Nordic countries, as well as continue to strengthen Jetpak’s market position in Denmark.
The information was submitted for publication, through the contact person mentioned below, on 28 December 2021 at 10.00 CET. This constitutes information that Jetpak Top Holding AB (publ) is required to publish under the EU Market Abuse Regulation.
For more information, please contact: Kenneth Marx, CEO Jetpak Tel: +46 (0) 73 368 54 00 E-mail: [email protected]
The company’s certified advisor is FNCA Sweden AB: Tel: +46 (0) 8 528 003 99 E-mail: [email protected]
About Jetpak:
Jetpak is the simple and fast option for prioritized door-to-door deliveries.
Jetpak offer solutions for both spontaneous transport needs and customized logistics.
Jetpak is represented in more than 170 locations within the Nordics and in Europe.
Jetpak has a unique and flexible customer offering based on the availability of normally approximately 4,000 departures daily and an extensive distribution network with approximately 820 courier vehicles. This enables Jetpak to offer the market to deliver the fastest and most comprehensive same-day service. This can be further supplemented with a unique tailor-made next-day service for system-based transports.
Jetpak Top Holding AB has been listed on Nasdaq First North Premier Growth Market since 5 December 2018 and the share is traded under the short name JETPAK.
For more information, please visit: www.jetpakgroup.com
