Scan Global to acquire OIA Global in largest deal yet

By Grace Kim

Danish freight forwarder Scan Global Logistics has agreed to acquire US counterpart OIA Global, which SGL says generated $780 million in revenue in 2025 and employs about 1,200 people across 60 offices. It is SGL’s largest investment to date.

SGL expects to close the transaction in the first quarter of next year. Melgaard says the deal could place SGL among the world’s 20 largest freight forwarders.

At 60 offices and roughly 1,200 employees, OIA supplies a substantial operating footprint, though the announcement gives no country-by-country breakdown. Its scale is clear enough; its valuation is not, because the purchase price remains undisclosed.

What does the top-20 claim rest on?

SGL CEO Allan Melgaard said: “As our largest investment to date, it will place us among the world’s top 20 freight forwarders, strengthen our position in key markets, and expand our capabilities across the supply chain.” His stated case combines ranking, market reach and service breadth.

He added: “Together with OIA Global’s talented people and experienced leadership team, we will create a stronger, more resilient platform for future growth.” No retention target, leadership structure or integration timetable accompanies that statement.

Melgaard’s top-20 ranking is a forward statement from the buyer, not a verified industry position. The announcement provides OIA’s $780 million 2025 revenue but no combined pro forma revenue, peer table or methodology against the current 20th-largest forwarder. Until those figures appear, the ranking remains arithmetic in prospect.

The Loadstar Premium’s DeskOne feed first flagged the transaction in its M&A Rumours market column one day before the announcement. That early notice shortened the suspense, not the reporting burden: price, financing structure and closing conditions remain the central facts.

How is Scan Global funding the acquisition?

SGL spent much of the past month raising funds. On 22 October, it issued a €300 million bond and said the proceeds would partly finance its next acquisition.

The Loadstar reported that SGL shareholders, led by private equity firm CVC Capital Partners, injected a further €111 million to help fund the transaction. The two disclosed tranches total €411 million, 37% above the bond issue.

SGL did not disclose the purchase price, so the debt burden, equity contribution and valuation cannot be compared directly. The announcement also gave no bond coupon, maturity or closing conditions, leaving financing cost and execution risk without a disclosed yardstick. Funding is visible; value remains less so.

What can OIA add to Scan Global?

SGL says OIA operates beyond traditional freight forwarding, with established capabilities in four areas. The announcement identifies them as existing businesses rather than proposed expansions.

• Supply chain management
• Customs brokerage
• Project logistics
• Packaging solutions

SGL says those services will complement its expertise and broaden support for customers operating increasingly complex global supply chains. Melgaard links the combination to stronger positions in key markets, although no revenue mix, service overlap or expected cost saving is disclosed.

OIA Global CEO Jeffery Barrie said: “What stood out to us about Scan Global Logistics was not only the scale of the organisation, but also the way it does business. Both companies are built on strong customer relationships, entrepreneurial thinking, and empowered local teams.” Barrie said those shared values made SGL “the right partner for OIA Global.”

At 60 offices and roughly 1,200 employees, OIA supplies physical reach as well as service breadth. A simple division yields 20 employees per office, useful shorthand but not a network plan, since staffing and revenue by location remain undisclosed.

Why was OIA on the market?

The Loadstar’s M&A sources said US family-owned fund Lacy Diversified Industries had sought an exit from OIA for some time. LDI acquired OIA in 2010 and subsequently completed five acquisitions to expand its geographic reach and service range.

The first of those purchases was UK forwarder Belville Rodair in 2013, giving OIA its first European presence. LDI therefore built the network beyond its US base before seeking a sale, although no reason for the exit appears beyond the stated intention to sell.

The five acquisitions explain part of how OIA reached its present 60-office footprint, although office count alone says nothing about revenue density, profitability or customer concentration. Those measures will matter more when assessing whether SGL bought scale, diversification or inherited complexity.

When does this become a completed deal?

SGL expects the transaction to close in the first quarter of next year. The announcement names no regulatory approvals, financing conditions or integration milestones required before completion, so the top-20 ranking remains a company projection rather than an operating result.

The immediate consequences are financial and commercial: a larger funded balance sheet, OIA’s roughly 1,200-person workforce and a broader service portfolio. The announcement discloses no job, office or service-level changes, while revenue mix, financing cost and expected savings remain unquantified.

The first hard test arrives in the first quarter of next year: whether SGL can close the deal, retain OIA’s people and turn 60 offices into a measurable top-20 platform. Until then, the ranking remains a forecast; €411 million in disclosed funding is the clearest hard number.