Clasquin, a forwarding company in international transport, officially joined the Italian-Swiss shipowner MSC at the start of the year. The Lyon-based mid-sized company with 1,600 employees and a turnover of 502 million euros (over the first 9 months of 2024) will strengthen Shipping Agencies Services, the services branch of the maritime carrier, which is based in Luxembourg.
The transaction took the form of a public purchase offer (OPA) on the Paris Stock Exchange, which values Clasquin for 325 million euros, excluding cash. The price paid by MSC is closer to 330 million euros. MSC obtained 97.5% of the shares, including 42% from Yves Revol, 77 years old, and around ten percent of the employees.
The buyer was given until January 15 to negotiate the passage of 90% allowing the company to be delisted. The delay was not necessary. The vast majority of shareholders in the floating capital followed MSC’s proposal at 142.03 euros.
The treasure of shipowners after Covid
Yves Revol joined Clasquin in 1976, at the age of 31, in the sales department, then took over the company in 1982. This air transport specialist then employed around ten people. To develop on five continents and expand to other modes of transport, the Lyon freight forwarder and agent joined the Stock Exchange in 2006, with an initial listing at 15.50 euros.
The Covid upheaval has changed the situation for this intermediary between shippers and transporters. “After the outbreak of the epidemic, shipping companies made so much money from the increase in container prices that they are seeking to diversify their businesses. That of organizing transport makes sense to them», analyzes Yves Revol.
In the sector, the French CMA-CGM has also taken over Bolloré Logistics, Clasquin’s competitor, except for the African activities, Bolloré Africa, sold to MSC. The Lyon-based ETI is part of a multinational of 200,000 people, present on all continents, whose fleet includes 800 ships and seven planes. In France, it is one of the main operators of the Port of Le Havre. MSC, which is not listed on the stock exchange, and which is a family business, is committed to retaining the head office of Clasquin in Lyon, as well as a subsidiary LCI in Villefranche-sur-Saône, as well as the various brands acquired over time. Hugues Morin, its general director, also remains in post. In 2023, Clasquin established itself in the Maghreb by taking over the Moroccan Timar, which operates in particular at the port of Tangier.
Source: www.usinenouvelle.com
