Premium freight provider Flash Europe International has made another step towards its goal of doubling in size by 2020 by acquiring German company Schwerdtfeger Transport for an undisclosed sum.
Schwerdtfeger is an time-sensitive premium freight distributor which reported €20m ($23m) in revenue for 2016 and manages around 70,000 deliveries per year.
Flash Europe has had an aggressive growth strategy since September 2015 when Eurazeo PME, a subsidiary of private equity group Eurazeo, acquired a 43% interest in the company.
Eurazeo PME specialises in the transformation of French SMEs into international intermediate-sized enterprises.
Flash took the first step of this international growth plan in February with the acquisition of German based EF-Express group. This was followed the purchase of the French start-up Upela.com, with a joint investment from Eurazeo PME.
Flash said Germany was the top market in Europe for industrial premium freight, including the automotive sector, making it a strategic and priority focus for the group.
Schwerdtfeger’s founders have decided to retire post the acquisition.
The company’s incoming managing director, Fabian Rogalla (pictured, second from left), told Automotive Logistics: “Already today the automotive sector, with its numerous customers, is a significant department for us. We thank Daimler, Schuler and IFA for their trust and we plan on further improving our partnership.
“In the future, we would also like to win customers throughout the whole supply chain and support them with our services.”
Schwerdtfeger will be integrated as an independent brand within the Flash Group, catering to the need for high-end services for the industry, according to a statement announcing the deal.
Philippe Higelin (pictured, first from left), chairman of Flash Europe International, said: “Our clients will get access to better coverage and presence in Germany with seven additional offices, our own fleet of vans and trucks, more international traffic and capacities, an amazing set of digital tools and the highest standard regarding finance and CSR.”
Flash Europe accounts for over 500,000 shipments annually, relying on a fleet of more than 6,000 drivers throughout the continent. It generated revenue of €170m in 2016.