The GAC Group has announced the amicable acquisition of 100% of UK-based shipping and logistics group OBC in a move described by both parties as strategically astute. The acquisition which comes into effect on 31 March 2008 will see OBC rebranded as GAC-OBC while continuing to handle vessels in ports throughout the UK, the Netherlands and the US Gulf Coast where OBC has branch offices. “There is a strong strategic fit between GAC and OBC,” said Lars Heisselberg, Group Vice President, GAC Shipping. “Besides giving us an important foothold in the port of Rotterdam and complementing our existing US operation, OBC is strong in North Sea oil and gas and this is a sector where GAC has long term development interests.
“We are also fortunate to have built a close relationship with OBC since 2005 when the company became part of our Global Agency Network.”
OBC was established in 1979 in Teesside in North-East England, focusing on Tanker Port Agency, Offshore Logistics, Liner Agency and Freight Forwarding. It has since evolved to add a Business Travel Agency and Dry Bulk Operations to its portfolio of services. The company currently handles around 7,000 port calls per year.
Founder-owners Bill Brough and John Wignall will remain as non-executive directors of the GAC-OBC board, ensuring that their knowledge and experience is retained and that there is continuity in management. In a joint statement, Brough and Wignall said: “We have successfully built this business together and now, at our age, the time is right to hand OBC on.”??“From OBC’s perspective the global reach of the GAC Group, its financial strength and its vigorous growth have made for an easy decision to agree to an acquisition. When the numbers are right, the people you’re dealing with are solid and positive and the prospects for future growth are high, it’s not hard to reach an agreement."
Current Managing Director Peter Cole will remain in that role in the rebranded GAC-OBC. He said the acquisition was a natural progression from the global network agreement entered into with GAC in 2005. “The alliance was already delivering solid benefits for our customers by combining our local expertise with GAC’s global reach and we expect even greater service value to come from this latest move,” Cole said.
“OBC’s services cover shipping, logistics and travel services and these add further strength to GAC’s growing portfolio of integrated and cross-over services,” said GAC Group President, Lars Säfverström.?“We like the way OBC goes about its business and see a match with our own business philosophy.” ?Säfverström recently launched the GAC Group’s new five-year strategic plan 'Vision Y-Global Values', along with a makeover for the Group’s logo. The emphasis on values is seen as a critical success factor. “Our success depends on the quality of the relationships we build both with our customers and with our colleagues, especially our new ones at OBC,” said Säfverström.
GAC managers and staff emphasise human dignity as a core value in their operating philosophy. They value long-term relationships with business partners, customers and suppliers and seek win-win solutions to the challenges of modern business. GAC’s 8,000 people are found in close to 300 offices worldwide and speak more than 100 languages. Headquartered in Dubai, the GAC Group is local in action and global in attitude.
Since its establishment by Swedish transport interests in 1956, GAC has grown to become a leading global provider of shipping, logistics, marine and related services.
“We are also fortunate to have built a close relationship with OBC since 2005 when the company became part of our Global Agency Network.”
OBC was established in 1979 in Teesside in North-East England, focusing on Tanker Port Agency, Offshore Logistics, Liner Agency and Freight Forwarding. It has since evolved to add a Business Travel Agency and Dry Bulk Operations to its portfolio of services. The company currently handles around 7,000 port calls per year.
Founder-owners Bill Brough and John Wignall will remain as non-executive directors of the GAC-OBC board, ensuring that their knowledge and experience is retained and that there is continuity in management. In a joint statement, Brough and Wignall said: “We have successfully built this business together and now, at our age, the time is right to hand OBC on.”??“From OBC’s perspective the global reach of the GAC Group, its financial strength and its vigorous growth have made for an easy decision to agree to an acquisition. When the numbers are right, the people you’re dealing with are solid and positive and the prospects for future growth are high, it’s not hard to reach an agreement."
Current Managing Director Peter Cole will remain in that role in the rebranded GAC-OBC. He said the acquisition was a natural progression from the global network agreement entered into with GAC in 2005. “The alliance was already delivering solid benefits for our customers by combining our local expertise with GAC’s global reach and we expect even greater service value to come from this latest move,” Cole said.
“OBC’s services cover shipping, logistics and travel services and these add further strength to GAC’s growing portfolio of integrated and cross-over services,” said GAC Group President, Lars Säfverström.?“We like the way OBC goes about its business and see a match with our own business philosophy.” ?Säfverström recently launched the GAC Group’s new five-year strategic plan 'Vision Y-Global Values', along with a makeover for the Group’s logo. The emphasis on values is seen as a critical success factor. “Our success depends on the quality of the relationships we build both with our customers and with our colleagues, especially our new ones at OBC,” said Säfverström.
GAC managers and staff emphasise human dignity as a core value in their operating philosophy. They value long-term relationships with business partners, customers and suppliers and seek win-win solutions to the challenges of modern business. GAC’s 8,000 people are found in close to 300 offices worldwide and speak more than 100 languages. Headquartered in Dubai, the GAC Group is local in action and global in attitude.
Since its establishment by Swedish transport interests in 1956, GAC has grown to become a leading global provider of shipping, logistics, marine and related services.