DSV acquires fulfillment company S&H, CEO Elshout steps down

Today, Danish freight-forwarder DSV acquired Netherlands-based fulfillment company, S&H, purchasing 100 percent of the company’s shares. In the same statement, DSV said that CEO Hans Elshout has stepped down from his position.

In the deal, S&H will remain a distinct unit under DSV’s umbrella, but will take the name DSV Multi-channel Fulfilment. CEO of DSV’s solutions division, Brian Ejsing, relayed that the company has been “on the lookout” for a add-on acquisition to help handle the demand for e-commerce.

DSV added that Elshout will “continue to work for DSV in an advisory capacity,” and will be replaced by Peter van der Maas, who will hold the title of managing director.

The companies said the new structure will allow them to expand their business-to-business and direct-to-consumer multi-channel fulfilment services, which include e-fulfilment, financial fulfilment and merchandise logistics for retail customers.

DSV has been doing well in 2018, despite the tumultuous trade landscape. In H1 2018, its gross profit from airfreight grew 16 percent to US$186 million.