AP Moller - Maersk (Maersk) has closed the acquisition of Senator International, marking a significant step in the company’s long-held ambition to enter the airfreight market as it moves forward with its end-to-end logistics strategy.
Senator’s airfreight capabilities include own controlled flights and long-term partnerships with best-in-class airlines, an established full container load (FCL) and less than container load (LCL) network, and specialised services such as packaging, warehousing and distribution across five continents.
“As a global provider of integrated logistics, we are improving our ability to provide end-to-end solutions to our customers. With Senator on board, we are ramping up our airfreight capacity, network, and know-how significantly to cater even better for our customers,” said Maersk’s CEO of ocean and logistics, Vincent Clerc.
“In the past two years, knock-on effects of Covid-19 have led to widespread congestion and production issues. As a result, more customers are requesting alternative means of cargo transportation. Senator will add their broad industry expertise and product knowledge to Maersk’s existing network and thus provide customers with increased flexibility in their supply chains,” he said.
The enterprise value of the transaction on a post-IFRS 16 basis (International Financial Reporting Standards) is approximately $644 million, as announced on November 2.
Maersk’s ambition is to have approximately one-third of the annual air tonnage carried within its own controlled freight network, which will be achieved through a combination of owned and leased aircraft.
