Spanish parcel services provider Agencia Servicios Mensajeria (ASM) has been sold by Germanfinancial investor Arques Industries AG to the Swiss family business Betlen AG for a symbolic
price.Arques, a turnaround specialist concentrating on the acquisition and active restructuring ofcompanies in critical situations, announced that it had sold the Spanish firm to consolidate itsportfolio and reduce its risks. The Munich-based firm acquired ASM in April 2008 for the nominalsum of €1 and expanded its distribution network in October 2008 by integrating a former competitorwhich was also purchased for a symbolic price.
The parcel services industry in Spain is going through a consolidation phase and isinfluenced by the significant economic downturn as well as similarly declining shipment volumes,Arques said. The expansion of the ASM distribution network last year was not able to compensate forthe general decline in business development. In addition, the further financing of the companyproved to be problematic due to the very restrictive behaviour of banks and creditors, it added.
With the acquisition of ASM, Betlen has taken the opportunity to establish itself in thetransportation sector, the Spanish website Canallogistica.com reported. Betlen AG, which invests instrategically important international industries, is expected to focus on restructuring ASM’soperations in Spain, improving its market position and expanding through strategic alliances andbusiness development.
Bence Horvath, the representative of the Betlen Group and now new CEO of ASM in Spain, said: “ All the actions and decisions that we take are aimed at quality and customer loyalty. We willcontinue to invest as much as possible in technology, infrastructure and human resources to achieveour goals.”
Established in 1987 as a local Spanish courier company, ASM quickly expanded its networkestablishing itself as one of the leading companies on the market specialised in transportation ofgoods for all types of sectors. It now has over 200 branches all over Spain, Andorra and Portugal.It mainly offers next-day express deliveries across the countries.
