Carousel Logistics and DANX to merge after private equity buyout

Scandinavian private equity firm Axcel has announced plans to create “the first pan-European specialist overnight logistics provider”, after announcing simultaneous acquisitions of Denmark’s DANX and Britain’s Carousel Logistics.

It will merge the two businesses, which have both been involved in the day-to-day supply of spare parts to manufacturers – Day and Night Express (DANX) serving the Scandinavian and Baltic markets and Carousel serving the UK and Ireland .

Axcel said the combined company would have annual revenues of around 190 million euros ($216 million).

“Acquiring two companies at the same time is never easy,” said Lars Cordt, partner at Axcel responsible for investment.

“By allowing these two great companies to join forces – and with their strong positions in each respective geographic area – we believe we can grow the combined business significantly across Europe.

“We have created both a strong pan-European player and a platform for further consolidation of overnight logistics services in Europe,” he added.

Carousel CEO Jonathan Simpson-Dent has been named chairman of the merged group, with DANX chief executive Klaus Rud Sejling serving as CEO.

Mr. Simpson-Dent said: “In partnership with Axcel, we are combining two proven teams to create a pan-European critical services logistics network positioned to benefit from positive customer service and engagement, with strong potential for future growth. .

Mr. Rud Sejling said, “I am very proud of our historic growth, driven by our ability to deliver unparalleled mission-critical services through our high-density network spanning the Nordics and Baltics. With Carousel, we are well placed to overtake the market on a European scale.

Carousel was acquired from a group of UK investors, including the founders of Carousel and private equity firm Livingbridge. DANX was acquired from a group of Danish private investors, including Søren Gønge and Rud Sejling, who are both reinvesting alongside Axel.

The transaction is subject to regulatory approvals and is expected to close in the first quarter of this year.

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