Netherlands-based chemical transport and logistics provider Den Hartogh has announced that it has reached an agreement to acquire the entire issued share capital of InterBulk.
According to Den Hartogh, the two companies have complementary strengths and geographical footprints and will together form a global top three logistics provider for the chemical industry.
The transaction consideration reportedly represents a value of approximately £42.1 million (approximately €57 million).
InterBulk’s strong global footprint will reportedly enable Den Hartogh to make a step-change and acceleration in its international strategy in China and the US.
The new, combined company will leverage the competencies of almost 1,600 employees and a combined asset base of approximately 25,800 liquid, gas and dry bulk containers, 550 trucks, 400 road barrels, as well as offices in 23 countries.
“We are very proud of our great people that have brought us to where we are today and made this major step possible. And we look forward to welcoming on board soon our new colleagues from InterBulk. Together we will be able to grow our business successfully in the worldwide market, in which scale and global reach are increasingly important success factors,” said Den Hartogh's Group Managing Director Pieter den Hartogh.
According to Den Hartogh, it is expected that the transaction will be completed during the first quarter of 2016.