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Yusen buys Tibbett Logistics in Romania

Tibbett Logistics Romania June2017WOODFORD GREEN, UK: November 17, 2017. The Keswick Enterprises Group is selling its Romanian Tibbett Logistics subsidiary to Amsterdam-based Yusen Logistics (Europe). The sale is expected to complete by the end of the year and is subject to approval by Romania's Competition Council.

According to Keswick, Yusen is active in 17 countries throughout Europe - but not Romania. "We believe the sale is in the best interests of all stakeholders [and] represents an excellent fit in terms of skills, sectors, services and geography," commented executive chairman John Harvey.

Keswick Enterprises established Tibbett Logistics in 2010 and has since developed its contract logistics, warehousing, transport and intermodal operations at an 11.5 percent annual growth rate over the past five years.

The company generates 87 percent of revenue from long-term contracts with multinationals and employs 1,300 people in 15 Romanian locations including a bonded intermodal terminal in Bucharest.

The Keswick Enterprises Group was established in 2005 by former Tibbett & Britten Group management as a UK-based private equity investor in supply chain-related operations. Tibbett & Britten was sold in 2004 for £328 million to Excel, a company subsequently acquired by Deutsche Post DHL.

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