AAC Capital’s Lubbers Logistics Group, the logistics provider to the oil and gas drilling industry, has completed the acquisition of the Special Transport divisions of Wagenborg Nedlift in the Netherlands and Wagenborg GmbH in Germany as per July 1, 2016. The acquired divisions will be fully integrated into the Lubbers organization and will continue under the brand name Lubbers. The acquisition is part of Lubbers’ strategy to further strengthen its position in the European energy logistics market. The divestment allows Wagenborg Nedlift, a specialist in horizontal and vertical heavy transport, to focus on its niche market: lifting, heavy transport and assembly.
Through the acquisition Lubbers Logistics Group expands its workforce by 89 employees and adds 73 trucks and 165 trailers to its existing truck and trailer fleet. The combination enables Lubbers to further expand its European network and by leveraging the expertise of the Wagenborg Nedlift employees, Lubbers expects to further optimize the service to its customers.
The divestment enables Wagenborg Nedlift to focus on its core activities: lifting, heavy transport and assembly. In addition, Wagenborg Nedlift secures good future prospects for the Special Transport division employees who will relocate to Lubbers.
Hemingway Corporate Finance acted as exclusive financial advisor to Lubbers Logistics.
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