Litorina divests its holding in LGT Logistics (“LGT”), the leading Nordic full-service provider of furniture logistics solutions, to NTG Nordic Transport Group A/S (“NTG”), a logistics group listed on Nasdaq Copenhagen
During Litorina’s ownership, substantial investments have been made in digitalization and business development, combined with strategic add-on acquisitions –driving growth and enabling the group’s strong profitability of c. 3x logistics industry average
LGT is a leading full-service provider of transport logistics, handling and warehousing solutions tailored to the furniture industry. With its niched focus and specialist competence in handling non-palleted and lightly wrapped furniture, LGT deliver high customer value with its industry-leading service with low damage rates. The group serves a wide range of customers including furniture brands, design houses, manufacturers, wholesalers, and retailers as well as international partners. LGT’s activities are conducted from premises in Denmark, Sweden, and Finland, including cross-docking and warehousing facilities. A minor part of the group’s operations involves third-party logistics solutions serving several sectors with transport, handling, and warehousing solutions.
“Being a pan-Nordic market leader in this well-defined business service niche, together with clear value creation levers, made LGT match well with our investment strategy when Litorina invested in 2015”, says Kristian Holmström, Partner at Litorina Capital Advisors AB, investment advisor to the fund Litorina IV. “It has been rewarding to work with LGT during these years and management’s commitment and ability to deliver on the set financial targets have been impressive. We wish the entire team the best of luck in the NTG family and we are confident that LGT, with its solid and unique platform, will continue to thrive and prosper in that environment”.
“This marks an exciting milestone for LGT”, says John Riis, Managing Director of LGT Denmark. “LGT fits perfectly into the decentralised structure of NTG. By joining forces with NTG, we will continue to operate on a stand-alone basis, but with the support from a multinational freight forwarder. It has been a close and valuable cooperation together with the Litorina team and I’m now looking forward to continuing developing LGT within NTG”.
Clearwater, Vinge and PwC were advisors to the sellers in the transaction.
For further information, please contact:
Kristian Holmström, +46 8 545 180 14, Partner, Litorina Capital Advisors AB
Paul Steene, +46 8 545 181 88, Partner, Litorina Capital Advisors AB
LGT Logistics is a full-service furniture logistics specialist in the Nordics offering tailor-made concepts for furniture brands, design houses, manufacturers, wholesalers, and retailers as well as international partners. The main activities of LGT are conducted in Denmark, Sweden, and Finland, and the group has approximately 320 employees. For further information, please visit: www.lgtlogistics.com.
Litorina, founded in 1998, invests in niche market leading companies with headquarters in the Nordics. Litorina partners with management teams and entrepreneurs that want to take their companies to full potential. Litorina aims to build larger, better and more sustainable companies by contributing relevant experience, knowledge, passion and resources to accelerate growth. For further information, please visit www.litorina.se.