Spedag has offices in several countries in east Africa and specializes in energy and infrastructure, aid and relief, oil and gas, and commodities. The company employs around 400 people in 24 locations in Kenya, Uganda, Tanzania, Rwanda, and South Sudan. CEVA, which is owned by container shipping giant CMA CGM, said that the purchase is part of efforts to make the African market account for a significant share of its revenues by 2025. This acquisition is the perfect follow-on to organic growth and M&A activity in Africa over the past two years, as well as the recent acquisitions of Ingram Micro CLS and Colis Privé.
The acquisition announcement comes after finalizing all customary closing conditions, including receiving regulatory approvals by relevant authorities. The deal is the latest in a series of acquisitions this year made through parent CMA CGM. The group has also purchased Ingram Micro’s former Commerce & Lifecycle Services business and Colis Privé, a France-based last-mile provider.