Axcel Fund III divests LGT Logistics to Litorina
The Nordic investment fund Axcel III has agreed to divest LGT Logistics to Litorina. The transaction is subject to customary regulatory review and is expected to close in April 2015.
LGT Logistics, with an annual turnover amounting to approximately SEK 700 million, is the leading actor in the Nordic region within the field of furniture logistics, and provides services such as warehousing, cross-docking and distribution for companies within the furniture industry. Sweden and Denmark constitute the main markets for LGT Logistics, but the group also has operations in Finland and the Baltics. LGT Logistics is based in Tibro, Sweden and Horsens, Denmark, and has approximately 290 employees.
Axcel fund III was advised by Mannheimer Swartling in the transaction. The firm’s team consisted primarily of Isabella Ramsay, Martin Fagerlund, Therese Jansson and Johan Sundqvist. Kromann Reumert advised on Danish law.