Thursday September 29, 2022
06-01-22

Jetpak acquires CTS Express

Jetpak CEO Kenneth Marx
Jetpak CEO Kenneth Marx

Jetpak is expanding its operations in the Nordics with the acquisition of Danish express logistic company CTS Express.

The Swedish express company is initially paying DKK 10 million for its smaller rival, with a possible further DKK 6 million payment depending on CTS financial results in 2022. The Danish company, based in Copenhagen/Kastrup, has annual revenues of about DKK 40 million and expected profits (EBITDA) of DKK 1.8 million for 2021.

CTS Express deliver time critical logistic solutions for the B2B market, based on air and courier transports, integrated with freight forwarder solutions. It operates a Nordic and European network with currently circa 30 subcontracted courier vehicles, with additional ad-hoc courier capacity.  

“The acquisition of CTS Express is an important step towards ensuring Jetpak’s future growth and strategic position in the Nordics. CTS Express have positioned themselves as a strong player within specialized express logistics, and I look forward to continue the Jetpak journey together with the CTS Express team”, said Jetpak’s CEO Kenneth Marx.

The current management and employees of CTS Express will be an important part of expanding CTS service offerings into other Nordic countries, as well as continuing to strengthen Jetpak’s market position in Denmark.

For its part, Jetpak offers about 4,000 departures daily and an extensive distribution network with approximately 820 courier vehicles, enabling it to provide wide-ranging same-day and next-day delivery services.

SourceJetpak
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