Link Logistics and YOYO Global Freight joins forces

Link Logistics and YOYO Global Freight joins forces to accelerate growth and internationalisation

Link Logistics strengthens the Danish core business and accelerates its internationalisation with the acquisition of YOYO Global Freight, which is a leading Danish freight forwarding and logistics company. YOYO provides courier service and sea, air and land transport for companies with a particular focus on the high-end industrial segment.

The merger of YOYO and Link Logistics creates the leading Nordic logistics partner in express transport with expected 2021 revenue exceeding DKK 600 million and expected operating profit (EBITDA) of around DKK 40 million, 170 employees and locations in Brøndby, Fredericia, Aarhus, Odense, Aalborg, Gothenburg and Stockholm as well as offices in Norway and the US. The transaction is conditional on approval by the competition authorities.

”We look forward to cooperating with our skilled new colleagues to create an even stronger joint platform through expansion of our own business and acquisitions of attractive companies that can contribute to our growth strategy. Together, we will have the size and muscle to accelerate the international expansion by investing in our sales organization, the digital future and sustainability as well as expanding with new terminals and offices in existing and new markets,” says Anders Martens, CEO of Link Logistics.

In the wake of COVID-19, the international express freight and courier service markets are expected to grow at a rapid pace due to high demand from consumers and normalization in a number of key industries. The transaction offers obvious opportunities for cross-selling of complementary services and products in Link Logistics and YOYO. Both companies focus on employees, IT platform and customer service, offering highly valuable and bespoke solutions to customers in international courier services and air, sea and land transport.

”Satisfied customers and orderliness are cornerstones of the culture in YOYO and Link Logistics, and we therefore look forward to joining forces and generating even more value as one strong international logistics partner with the skillset to manage the increasing complexity for our customers. We want to be ahead of the development and provide personal and bespoke high-quality service to our customers, and we will be even stronger positioned in the future after the merger,” says Kasper Andersen, co-founder and CEO of YOYO.

The acquisition of YOYO is completed following Polaris’ acquisition of Link Logistics towards the end of 2019 with a view to accelerate growth through continued organic growth and a focus on acquisition opportunities across Europe, the USA and Asia.

YOYO’s management continues as part of the management of Link Logistics, and the ownership change does not entail changes in customer relationships or terms. In connection with the transaction, YOYO’s management will invest in Link Logistics. The parties have agreed not to disclose the purchase price.

 

Additional information:
Anders Martens, CEO of Link Logistics, +45 21 29 85 02

 

 

 

About Link Logistics (www.linklog.dk)

Link Logistics is the leading independent Nordic courier specialist within express transport with global agreements with the largest suppliers. The company has 95 employees and terminals in Aarhus, Brøndby, Fredericia, Gothenburg and Stockholm. In 2020, Link Logistics generated revenue of DKK 280 million and operating profit (EBITDA) of DKK 22 million.

 

About YOYO (www.yoyoglobal.com)

YOYO Global Freight was founded in 2009 and is currently a leading Danish freight forwarding and logistics company with terminals in Odense and Aalborg as well as offices in Copenhagen, Oslo, Stavanger, Gothenburg and New York. The company has 75 employees working to make freight and logistics as simple and easy as possible. In 2020, YOYO generated revenue of DKK 259 million and operating profit (EBITDA) of DKK 12 million. In 2017-2020, YOYO generated an average annual growth rate of 44% driven by organic growth and acquisitions.

 

About Polaris – The Power of Partnership (www.polarisequity.dk)

Polaris is a Nordic investment company based in Copenhagen, which invests in and provides flexible capital to well-established medium-sized companies in the Nordics. Since its foundation in 1998, Polaris has raised five funds and obtained capital commitments of EUR 1.7 billion. Polaris’ focus is to invest in companies with growth and development potential. To date, Polaris has invested in 48 companies and completed more than 80 add-on investments. Polaris currently owns 17 companies with total revenue of over EUR 1 billion and a total of 5,000 employees.

Brexit Preparation

Brexit is around the corner and we would like to prepare you in case of a no deal Brexit.

If no new trade agreement is concluded before 31 December 2020 and the transition period is not extended, all trade between the United Kingdom (UK) and the EU will be subject to the rules of the World Trade Organization (WTO) per January 1, 2021. The UK thus becomes a separate customs territory, where shipments moving to and from are liable to customs and other duties.

However, this does not apply to Northern Ireland, which will still be part of the EU customs union. The country code for Northern Ireland will be changed from GB to XI. This is important when booking shipments, as the correct country code must be selected.

All over the world, courier companies are changing and upgrading their production to handle dutiable shipments from and to the UK. Unfortunately, this also involves additional costs. Per. January 1, 2021 we therefore have to introduce a Brexit surcharge on all shipments to and from the UK of 40 DKK per. shipment to cover these costs. Your freight rates will remain unchanged.

There are several steps we recommend you take now to prepare your business for Brexit:

 

1. Sign up for an EORI number

When exporting goods to countries outside the EU, a company must be registered as an exporter.

The company will be assigned an EORI-number, which is a special EU number for exporting companies.

Such a number is needed to move goods from and to the UK from January 1, 2021.
 

Please note that the registration process may take time, so make sure to register as soon as possible.

You can read more about how to register the company as an exporter in:
 

DK: https://skat.dk/skat.aspx?oid=2248795

SE: https://www.tullverket.se/eng/business/eorieconomicoperatorregistrationandidentification/applicationforeorinumber

UK: https://www.gov.uk/eori

 

2. VAT

From 1 January, 2021:

  • If you are the importer, your company is required to pay UK taxes and import VAT.
  • If you deliver directly to your customers (eg. by Incoterm DDP, Delivered Duty Paid), you may need to consider getting VAT registered in the UK.
  • If you sell goods valued at £ 135 or less, you will be responsible for charging and paying UK VAT for these shipments.
    The VAT amount must be paid through your UK VAT registration.
  • If you sell goods to the UK valued at over £ 135, the importer is responsible for paying the UK VAT.

 

3. Appoint a registered importer if the recipient is not the importer himself.

The importer is responsible for your customs declarations. If you are exporting to the UK, the importer must be a UK entity, with a UK EORI number.

 

4. Commercial invoice

When you send shipments to a dutiable country, an invoice for customs clearance must be included. By 31 December 2020, this will apply to all shipments between the UK and the EU also.

 

There is still much to be clarified about Brexit and we will keep you informed as soon as we learn more. We will regularly post updates on our bookingsite as we get closer to Brexit.

Please contact our service center on +45 70 10 45 00 or info@linklog.dk if you have any questions.

 

 

COVID-19 Update 16-11-2020

Several countries are now partially or fully in lockdown, due to COVID 19

Our carriers will continue to be operational globally, however the authorities’ instructions concerning precautions will be enforced, which may lead to delays

The lockdown will have an impact on deliveries to businesses that are closed, as well as on the parcel shop deliveries. There is a risk, that many parcel shops will be closed, and it will not be possible to deliver as desired.

If you have to ship to Europe and you know that the recipient does not have the opportunity to be present on delivery, we recommend that you wait to ship to avoid excessive amounts of accumulated goods on the terminals.

 

US and India

Due to the COVID 19 situation and the resulting restrictions we are experiencing significant backlog

This in turn means we are experiencing delays in customs and transit time to and from these destinations in general.

As all goods to Canada pass through the United States, shipments to Canada are also affected by the same type of delays.

 

Australia, New Zealand and Singapore

We are currently experiencing delays due to large volumes of shipments. As Singapore is connecting Europe and Australia / New Zealand, this also affects shipments to these destinations.

 

Hong Kong

We are currently experiencing a large volume of shipments to Hong Kong due, to COVID 19. This may result in additional delays.

 

We will keep you updated on the COVID 19 situation and the effects on services globally.

You are always welcome to contact our service center. We are ready to help you with any questions have. Contact us via e-mail on servicecenter@linklog.dk or give us a call on +45 70104500.

COVID-19 Update 16-10-2020

Dear Link Customer

 

The COVID-19 outbreak continues to disrupt the logistics network around the world and international delivery speed and availability is variable and subject to change quickly.

At Link Logistics, we remain focused and dedicated to providing high quality service to our customers. We are doing our best to ensure that business operations are being continuously adapted to mitigate potential impacts in order for shipments to reach their destination quickly and securely. We continue to monitor the situation in all markets and adjust our network to facilitate the best possible solutions.

Unfortunately, we are still experiencing delays in various parts of the world including Europe. There continues to be back-logs around the world – especially in the US, India and Far East. India i.e. still has freight from June and July waiting to go through customs.

These backlogs impact the shipping and delivery times and even countries that are not directly challenged operationally, can be indirectly impacted by the extensive backlogs in other countries.

Our logistic providers have been forced to send home employees both as preventive measures and to stop local outburst, which has increased the pressure on the remaining part of the workforce.

We expect that the shipment volumes will increase over the coming months in an already pressured network. Therefore, we kindly hope for your understanding and patience concerning transit times.

We and our logistic providers are doing everything we can to ensure efficient operations and deliveries on time while on the same time securing the health and safety of customers, suppliers, and colleagues.

We still recommend sending shipments express over economy as express shipments continue to be prioritized in the operations.

You are always welcome to contact our Service Centre, from where we are ready to assist you with any question you may have. Please reach out via email to servicecenter@linklog.dk or by +45 70104500.