BHS Logistics acquires First Cargo and accelerates internationally
First Cargo’s 31 experienced employees control around 70 vehicles through partners and have a close collabora tion with 15 terminal hub s in the company’s key markets as well as a strong network in France, Germany and Austria. The company’s activities and geographical coverage is a strong m atch with BHS Logistics’ fleet of 500 controlled road units and positions of strength in Denmark, the Nordics, Germany and
Benelux. The acquisition will strengthen BHS Logistics and provide customers in both companies with a better partner with wider and deeper coverage.
”We are pleased to welcome the skilled employees in First Cargo who have built a fantastic company and a valuable network, which we look forward to jointly develop and expand as part of BHS Logistics. Our companies have a lot of cultural similarities and supplement each other perfectly in the Nordic and European markets and we look forward to speeding up the internationalization together and creating an even better offering for our customers, says Morten Studsgaard, owner and CEO of BHS Logistics.
The combined company will have a broader network, a larger customer base and benefit from economies of scale as all customer-facing employees will leverage BHS Logistics’ strong administration and organization. That creates a solid foundation for BHS Logistics to benefit from the expected growth in commerce between the Nordic countries and First Cargo’s key markets in Spain, Italy and Portugal in the coming years. In addition, First Cargo’s special competencies within temperature controlled goods, dangerous goods and automotives and other e-commerce will supplement BHS Logistics’ market leading position in transportation of pharmaceutical products.
First Cargo has made targeted efforts within quality and environmental management to strengthen competitiveness and has been certified within quality management (ISO 9001) and environmental management (ISO 14001) since 2011. In 2022, First Cargo was the first Swedish transport company to obtain an ISO 26000 certification based on the company’s efforts within social responsibility and contributions to a more sustainable development.
”We have been very diligent in our efforts to find the perfect home for First Cargo in BHS Logistics, which is characterized by family ownership and shares our values and focus on accountability, ethical behavior and mutual respect. BHS Logistics has built a strong organization, which will enable us to jointly accelerate
growth at a higher pace while maintaining our unwavering focus on delivering personal transport services of the highest standard, says Thomas Lindström, co-founder and CEO of First Cargo.
First Cargo operations continue unchanged under the auspices First Cargo part of BHS Logistics, just as two of the owners, Thomas Lindström and Johan Almén, will continue in the company, while Leif Johnsson will retire. The fourth co-owner, Sven Algholm, recently died after a longer illness. The ownership change does not entail changes to organization customer relationships or terms. The parties have agreed not to disclose the purchase price.
Morten Studsgaard, owner and CEO BHS Logistics, +45 56 93 15 15
Thomas Lindström, co-founder and CEO, First Cargo, +46 31 354 2002
About out BHS Logistics (www.bhslogistics.dk)
BHS Logistics is a modern transport company with experience from 1946 and 300 skilled employees focused on customers’ wishes and demand for large capacity and flexibility combined with safe storage, management and transportation of goods by road, water or air. The company controls more than 500 trucks, vehicles and trailers, covering Denmark and international markets from own offices and logistics hubs in Rønne, Køge and Hasselager. In addition to transport and logistics assignments, the company sells and provides aftermarket services for trucks and buses through its subsidiary, BHS Service Center A/S. Revenue in BHS Logistics was DKK 687 million in 2022 with an operating profit (EBITDA) of DKK 51 million.
About First Cargo First Cargo (www.firstcargo.se)
First Cargo was established in 2000 and is a Swedish forwarding agent focused on road transport in Europe from own offices and terminal hubs in Gothenburg, Malmö and Madrid. The company has 31 employees and provides courier and express transport based on fixed contracts with external partners controlling a total fleet of around 70 vehicles and cooperating closely with 15 terminals in key markets in Spain, Italy and Portugal. In 2022, First Cargo reported revenue of SEK 422 with an operating profit (EBITDA) of SEK 43 million.