QTerminals buys 90% stake in Dutch container handler Kramer Group

22 August 2023 Consultancy-me.com 3 min. read

Qatar-headquartered QTerminals Group has acquired a 90% stake in Kramer Group, a provider of integrated logistics and container services located in the Port of Rotterdam.

Headquartered in the Port of Rotterdam, Kramer Group is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port. The company provides handling and storage, container development and logistics services to the terminals across the Maasvlakte and the Eem-/Waalhaven.

With an annual cargo tonnage of 470 million tonnes, the Port of Rotterdam is the biggest seaport in Europe, and the largest outside of East Asia. In its latest financial year, Kramer Group generated revenues of €67 million with a profit of €11 million.

QTerminals buys 90% stake in Dutch container handler Kramer Group

For QTerminals Group, the acquisition of Kramer Group represents a strategic milestone in its diversification agenda. “The deal expands our presence into Europe’s largest port. It complements our existing network and adds new business, as well as a robust value-creating service offering,” said QTerminals CEO Neville Bissett.

The deal, which was negotiated over a 12 months period and was signed on 15 August 2023 in Rotterdam, was advised on financially by M&A consultants from PwC and JBR. Terms and conditions have not been disclosed.

PwC provided buy-side M&A advisory services to QTerminals, delivered by a cross border team staffed with members from PwC’s organisations in the United Arab Emirates and the Netherlands. “This deal demonstrates the strength of PwC’s international network which enables us to provide the very best advice on cross-border transactions,” said Jorn van Etten, a partner at PwC in the Netherlands.

Kramer Group tapped JBR as its exclusive financial advisor. “We assisted the shareholders of Kramer Group during the entire process,” said Rick ter Maat, a partner at JBR. “We are proud to have been involved in this transaction.”

Both PwC and JBR have an established track record in the maritime dealmaking landscape. The Dutch boutique previously advised Dutch container terminal company RST on its sale to investors Blue Ocean and Crestline Investors, and supported Royal Boskalis during its acquisition of UAE-based geotech company the Horizons Group.

PwC has M&A experts in 100+ countries worldwide, with its Middle East team recognised as one of the region’s top dealmakers.

New chapter

Founded 60 years ago by Marcel Kramer, Kramer Group was up until the deal a family business owned by the founder and his four children.

“André Kramer, CEO of the Kramer Group, said: “We are very excited about this significant milestone in the journey of our family business. Joining forces with QTerminals will enable us to expand our horizons and explore untapped opportunities. Whilst maintaining our culture, organisation, core team and our commitment to delivering the superior quality services to our clients in almost all aspects of container logistics.”

QTerminals is 51% owned by Qatar Ports Management Company and 49% by Qatar Navigation. Founded in 2016, the company previously invested in the Port of Akdeniz in Turkey (2021) and the Port of Olvia in Ukraine (2021).

In related news, in 2015 DP World (the Dubai-headquartered counterpart of QTerminals) bought a stake in RWG, another terminal company located in the Port of Rotterdam.