Litorina IV acquires a majority shareholding in LGT Logistics, the leading Nordic player in furniture logistics, from Axcel. The company’s management remain as owners alongside Litorina. Litorina, which via its second fund was the principal owner of LGT Logistics between 2005 and 2009, has extensive experience of both the industry and the company.
LGT Logistics, with net sales of over SEK 700 million, is the leading player in furniture logistics with a full service offering encompassing warehousing, cross-docking and distribution of furniture goods within, to and from the Nordic countries. The company has established a market leading position through both organic growth and acquisitions and is today, with its extensive distribution network, an integral part of the Nordic furniture industry as the hub between producers, exporters, importers, retailers and e-commerce players. The company has operations in the Nordic and Baltic countries with the main warehouses and terminals located in Horsens in Denmark and Tibro and Bjärnum in Sweden.
Paul Steene, partner at Litorina Capital Advisors AB, emphasizes LGT Logistics leading position in the Nordic market, “LGT Logistics has a unique position as a specialized logistics partner for the furniture industry. As a result of its size and long experience of furniture logistics, the company is able to offer its logistics concept in a very cost-efficient way with an industry leading quality, which is valued by both LGT Logistics’ customers and the customers’ customers.”
The company has opportunities to grow in both existing and adjacent segments and services. “Whether a sofa is purchased by a consumer in a furniture store or on the Internet there is a need to transport it from the producer to the consumer. LGT Logistics has, with its pan-Nordic platform and specialized service offering, a strong position to service that demand” says LGT Logistics CEO John Riis and continues “We look forward to developing and growing LGT Logistics together with Litorina once again. With its extensive industry experience and expertise, Litorina is an excellent partner for LGT Logistics in our work to realize the identified opportunities in our business plan.”
Litorina’s acquisition of LGT Logistics is expected to be completed in April 2015.
For further information, please contact:
Paul Steene, +46 8 545 181 88, Partner, Litorina Capital Advisors AB
John Riis, +45 70 15 55 55, CEO, LGT Logistics
LGT Logistics, founded in the early 1940’s, is the leading player within furniture logistics in the Nordic region. The company primarily offers warehousing, cross-docking and distribution of furniture goods within, to and from the Nordic countries. In 2014, the Group had c. 290 employees and reported net sales of over SEK 700 million. For more information, please visit www.lgtlogistics.com.
Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina Capital Advisors AB serves as an investment advisor for Litorina’s funds. Litorina is backed by a number of reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina’s four funds. For more information, please visit www.litorina.se.