German premium freight provider, In Time Express Logistik, has bought Spanish courier and express transport operator, Servicios Empresariale Ader (Ader), along with two smaller sister companies for an undisclosed sum.
Ader has been In Time’s local network partner in Spain for 15 years.
“Transport volumes for In Time on the Iberian Peninsula have reached a scale that makes it necessary to establish a direct presence in Spain,” said the company in a statement.
“Growth has been driven by local requirements of existing shipper clients from the automotive sector who have stepped up their own production capacity and business volumes in Spain,” it added.
Since starting in 1992, Ader has grown into a business with 17 offices, 120 employees and annual revenue of about €40m ($46m).
The company’s current owner and founder, Emilio Ropero, is leaving the business.
In Time’s joint managing director, Torsten Prelle, joins the management board of Ader.
In Time has been a subsidiary of Super Group since the South African supply chain management provider acquired it in 2015.
“We are very pleased to have the support of a strong, well-capitalised parent group that allows us to move quickly and seize opportunities like these,“ said In Time’s other joint managing director, Gerd Roettger.
In the most recent financial year, In time generated turnover of €136m. The company employs over 600 staff across 17 branch offices and sites in Germany, Sweden, Poland, Hungary, Romania and the Czech Republic.