Nordic cashes in on Wilson Logistics

The Swedish private equity firm has agreed to sell Wilson Logistics Group to Dutch mail, express and logistics company TPG for SEK2.35bn.

Nordic Capital, the Stockholm-headquartered private equity firm, has entered into a definitive agreement to sell Scandinavian transport company Wilson Logistics Group to Dutch-based logistics group TPG.

The deal, which is subject to regulatory approval, values the group at SEK 2.35 billion (£169 million; €257 million; $311 million).

Nordic Capital formed Wilson in 1999 through the simultaneous acquisition of Wilson Group, Castelelletti Overseas and Combined Logistics and has made four subsequent add-on acquisitions. Nordic’s original investment was not disclosed.

Wilson Logistics Group is the largest freight forwarding and logistics group in Scandinavia with net sales in 2003 of SEK 6.5 billion (£467 million; €711 million; $861 million). The group has 2,100 employees and 130 offices in 28 countries.

In a statement, Ulf Rosberg, partner at Nordic Capital said: “Wilson Logistics Group has enjoyed very impressive growth during Nordic Capital’s five year ownership. I’m delighted that Wilson will form a new platform on which TPG will further develop its global freight forwarding business operations.”

Nordic Capital was set up in 1989 and has provided expansion capital to more than 50 companies since then. The firm is currently investing from its Nordic Capital V fund, a €1.5 billion vehicle set up to invest in mid-market buyout opportunities across the Nordic region.