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Groupe Sterne, one of the leading French providers of time-critical logistics services, today announces the acquisition of nox NachtExpress. The newly formed group will thus become a leading provider of NachtExpress services in Europe. The deal was accompanied by Tikehau Capital and Meanings Capital Partners.
(Langenfeld/Bordeaux) Founded in 1972, Groupe Sterne has established itself as a key European player in sustainable transport and premium multi-service logistics. Today, they are active beyond France in Europe and Asia, with a network of international partners. In addition to their established transport and NachtExpress services, the group has developed three complementary service solutions to better serve their customers (Time-Critical, Urban, and Day Express in the aftersales market).
Furthermore, they provide a top-notch digital platform. In 2021, Groupe Sterne achieved a revenue of 270 million euros. nox NachtExpress is a leading European provider of NachtExpress services with a market presence in Germany, Austria, and the Benelux countries. The company operates more than 20 depots across Germany, employs around 1,000 staff, and generated revenue of over 280 million euros.
The newly formed group will comprise a total of over 80 depots in France, Germany, Austria, Belgium, and the Netherlands, offering a diverse range of services to more than 6,000 shippers. The group will employ over 2,100 employees worldwide. Daily, the newly established network will deliver to over 100,000 recipient customers with 3,000 delivery trips.
Transaction expected to close in Q2/22
nox NachtExpress was acquired in 2016 by SSVP III, a private equity fund advised by Orlando. The planned transaction is expected to close in the second quarter of 2022, subject to the approval of the relevant antitrust authorities. In October 2021, Tikehau Capital made a significant investment in Groupe Sterne through its private equity fund focused on the energy transition. The investment was made alongside a substantial reinvestment from the Sterne management team and Meaning Capital Partners (the former majority owner), as well as co-investors Idia Capital Investissement and GSO Capital.
To support Groupe Sterne’s organic and international development strategy, Tikehau Capital became the majority owner. This initiative was supported by Tikehau Capital through an additional investment from its T2 Energy Transition Fund and its co-investors (including Arkea CM). Daniel Desage, Executive Chairman of Groupe Sterne, and Laurent De Rosnay, CEO of Groupe Sterne, stated: “This merger is an important development for both groups. It enables a Europe-wide offering and promotes the expansion of our strategic partnerships with our customers. Our goal is to set new standards for time-critical deliveries with an efficient and reliable high-speed network. We warmly welcome the customers, employees, and partner companies of nox NachtExpress and look forward to the next chapter of our joint development.”
Enhancing the service offering together
“The complementary alignment of our two companies will provide our existing customer base with new – previously unavailable – opportunities and services to optimize their service supply chains. Our goal remains to enhance the efficiency, quality, and sustainability of our service offering,” said Donald Pilz, CEO of nox NachtExpress.
“Road freight transport in Europe currently accounts for 33% of transport-related CO2 emissions. Optimizing routes, refueling trucks, NachtExpress delivery, and vehicle energy efficiency are the key levers identified by the International Energy Agency to achieve the goal of halving CO2 emissions by 2030. We are pleased to support the acquisition of nox NachtExpress by Groupe Sterne. Their respective expertise and experience in delivery logistics, as well as their international networks, will position them as leaders in the European sustainable transport and logistics sector,” explained Pierre Devillard, Executive Director in the Private Equity Team at Tikehau Capital.
Accelerating international development
Hervé Fonta, Managing Partner of Meanings Capital Partners: “We are very pleased to be involved in the establishment of a Europe-wide leading company in logistics for time-critical services, which is a logical continuation of the transformation strategy initiated in 2017 with the acquisition of Groupe Sterne. Tikehau’s investment in Groupe Sterne at the end of 2021 should accelerate the company’s international development, and the new ensemble is an important milestone in the ambitious strategy of Daniel Desage and his team.”
About Groupe Sterne
Founded in 1972, Groupe Sterne is one of the French market leaders in time-critical logistics services and specializes in tailored high-value services. Groupe Sterne offers its customers regular night and day delivery and logistics services, as well as time-critical, ad hoc deliveries. Groupe Sterne has a strong historical positioning in France and has successfully expanded its geographical profile through a growing local presence in European and Asian countries, as well as through a global network of quality partners. 270 million euros in revenue in 2021 and 1,100 employees.
Photo: © Groupe Sterne/nox NachtExpress
