EV Cargo, a Hong Kong headquartered global freight forwarding and supply chain services company, has announced the acquisition of 75% of the shares of Air Express Cargo S.L. from its founding family owners.
Formed in 2004, and operating out of offices in Madrid, Barcelona and Valencia, Air Express Cargo has enjoyed considerable success through providing air and sea freight forwarding and customs brokerage services on behalf of importers and exporters across Spain, meeting their needs for both speed and reliability.
This strategic acquisition sees EV Cargo add another important market to its rapidly expanding European platform, which already features 20 offices and over 400,000 ft.² of warehousing in the Netherlands, Belgium, Germany, Poland, France, Switzerland and Greece.
EV Cargo, which manages supply chains for the world’s leading brands, aims to surpass $3bn of revenue by 2025 through organic growth and strategic M&A activities.
In March this year it acquired Fast Forward Freight, a successful freight forwarding business headquartered in the Netherlands, adding significant expertise in industry sectors such as automotive, marine engineering and aerospace, that represent considerable growth opportunities for EV Cargo.
The acquisition of Air Express Cargo will also add customer depth and provide access to additional global trade lanes from Europe to USA and South America.
Air Express Cargo will be branded as EV Cargo Spain and current founder and CEO Francisco de la Cita, who will continue to own 25% of the shares, will take up the role of country MD.
Francisco de la Cita said: “I firmly believe that by becoming part of EV Cargo, the future prospects for the business in Spain will be enhanced. It will enable us to provide our clients with the high-quality service they have enjoyed while being able to offer expanded services, which in turn will create opportunities to develop the business, attract new customers and drive growth. “EV Cargo’s global infrastructure, technology capabilities and international freight network will create new and immediate opportunities across different trade lanes, particularly between Spain and South America.”
EV Cargo Vice President, Europe Marc Terpstra said: “We are delighted to welcome Francisco and the Air Express Cargo team to the EV Cargo family. Spain is an increasingly important market for us as we manage supply chains for the world’s leading brands, and we look forward to quickly developing our full-service proposition across air and sea freight, road freight and contract logistics to serve both existing and new customers.”
