Finnish logistics group John Nurminen Oy has announced the acquisition of art shipping specialists Gerlach Art Packers & Shippers from UTi (Netherlands) Holdings BV. The terms of the deal remain undisclosed.
Finnish logistics group John Nurminen Oy has announced the acquisition of art shipping specialists Gerlach Art Packers & Shippers from UTi (Netherlands) Holdings BV. The terms of the deal remain undisclosed.
John Nurminen is a family-owned business that provides fine art services in addition to ship agency services and logistics-orientated real estate development to its clients. The transaction has been described as the latest step in its growth strategy and overseas expansion plans.
The Gerlach Group is based in Amsterdam and has operating units in the Netherlands, Belgium, Germany, Luxemburg and China.
Deloitte assisted John Nurminen on tax and financial matters. The team was led by Jani Hirvonen, director of Deloitte Finland. Hirvonen said: “We assisted and advised the client throughout the negotiations, financial and tax due diligence work, and acquisition and finance structuring.”
Procope & Hornborg (P&H), which has a longstanding relationship with John Nurminen, provided legal counsel on the deal, from the initial negotiations and the drafting of the letter of intent to the signing of the share purchase agreement and closing the deal.
The P&H team was led by Kalevi Tervanen, partner and head of the firm’s transactions and financing group, who said: “The deal was complex as the target had subsidiaries and other operating units in multiple jurisdictions, giving rise to detailed and wide-ranging legal considerations.”
UTi (Netherlands) Holdings BV was advised by Boekel De Neree NV.
