STG, supported by Hivest Capital, acquires 4 controlled-temperature logistics sites from Kuehne + Nagel France, thereby strengthening its positioning on the contract logistics market
Paris, June 2nd 2020 – STG, a group specialized in controlled-temperature transport and logistics, is accelerating the densification of its French network with the acquisition of 4 controlled-temperature logistics platforms located in France from Kuehne + Nagel, one of the world leaders in transport and logistics . STG hereby confirms its ambition to become a leading national and international player and its desire to carry out external growth operations.
The 4 sites sold by Kuehne + Nagel, located in Longvic (Côte d’Or), St Jory (Haute Garonne), Vallet (Loire Atlantique) and Wissous (Essonne), offer a storage area of almost 55,000 m² and serve a client portfolio composed mainly of major groups in the food industry (controlled-temperature PGC excluding retail).
Since the takeover of STG by Hivest Capital, the Group has resumed the densification of its French network and the development of its logistics activity, in particular with the opening of a site in Mitry Mory. The acquisition of these 4 sites accelerates this movement by doubling the size of the Group’s logistics activity and expands STG’s service offering by guaranteeing a complete service solution and integrating a recognized know-how. STG also intends to develop the transport offer of these 4 logistics sites by relying on its national network of agencies.
“After the acquisition of Mitry Mory at the start of the year, this acquisition strengthens STG in the controlled-temperature agri-food logistics. Already present in the OOH-catering and retail segments, the Group is today supplementing its offer with contractual logistics for the agri-food industry (dairy products in particular), of which it is becoming a major player in France. STG’s expertise in transport will also allow us to develop activities on all of these 4 sites. We are delighted with this new step and are pleased to welcome our new collaborators and customers within the Group,” declares Jean-Paul ONILLON, CEO of STG.
“We took over STG in 2018 to accelerate its development within the food logistics market, which has real strengths and offers many opportunities” says Axel Bonnassies, Managing Partner at Hivest Capital. “We are proud to support a dynamic team and delighted to see that the initiatives launched since our investment take shape. This acquisition, from one of the global leaders in transport and logistics, confirms the credibility of the role played by STG in consolidating the French market,” adds Barthélemy Grave.
The beginning of 2020 was devoted to the preparation of the transition as well as the lifting of the conditions precedent, the sale is fully effective from June 1st 2020.
About Hivest Capital
Hivest Capital is an independent French private equity firm approved by the Autorité des Marchés Financiers. As part of buyout or expansion projects, Hivest Capital invests in the capital of French SMEs or mid-caps, whose turnover is generally between €50-500 millions. The private equity firm aims to help companies unleash their full potential through improved operational performance and innovative growth strategies.
Specialist in refrigerated transport and logistics of agri-food products, STG takes care of the controlled-temperature (- 20 ° C to + 6 ° C) supply chain of the agri-food industry, large retailers and out-of-home catering in France. STG relies on a dense network allowing it to serve its customers with regional proximity from its 31 platforms (including the 4 newly acquired ones) located throughout the French territory. The Group has an efficient network, ensuring the fluidity of transport of fresh products, and has thus been supporting agri-food companies in their development for 70 years.
With over 83,000 employees at almost 1,400 locations in over 100 countries, the Kuehne + Nagel Group is one the world’s leading logistics companies.
Its strong market position lies on Sea, Air, Road and Contract Logistics, with a clear focus on integrated logistics solutions.
Kuehne + Nagel operates in France at over 140 offices, platforms and warehouses, with a workforce of more than 11,000 employees. It has operates c. 1,500,000 m² and serves 16,000 clients in France.
List of Parties involved
Company – STG : Jean-Paul Onillon, Christophe Allier, Anthony Chevrier
Investor – Hivest Capital Partners : Axel Bonnassies, Barthélemy Grave
Lawyer (corporate) – Hogan Lovells : Stéphane Huten, Ali Chegra, Florian Tranchecoste
Lawyer (anti-trust) – Hogan Lovells : Eric Paroche, Victor Levy
Social DD – CWA : Julien Boucaud-Maitre
Financial DD – Advolis : Damien Bourg
Company – Kuehne+Nagel
Lawyer (corporate) – Bignon Lebray
M&A – KPMG