Private equity investor Vaaka Partners acquires LTP Logistics
LTP Logistics Oy, a Finnish company specializing in food logistics, has a new majority owner, the private equity investor Vaaka Partners, which has acquired a majority stake in the company. The arrangement will enable LTP Logistics to achieve strong growth in the management of goods flow in the food sector. In connection with the transaction, Matti Perkonoja, former CEO of the meat producer HKScan, was appointed as the chairman of LTP Logistics’ board of directors.
LTP Logistics specializes in managing the flow of goods in the food sector, and its main clients include small and medium-sized food producers. LTP Logistics combines the food deliveries of multiple producers into larger consignments and delivers them to the distribution networks of retail chains. The company has a strong potential for growth driven by changing consumption patterns that will increase the demand for novel, flexible, and more efficient solutions in food supply chain management.
“Over the past few years, LTP Logistics has achieved significant growth, and our aim is to continue on the same path. However, we now need a stronger and more strategic ownership base to support our future growth objectives. Vaaka Partners has a strong track record in helping companies take their business to the next level, and I believe they are the right partner for us at this point in our journey,” says Matti Tuominen, CEO of LTP Logistics.
Vaaka Partners plans in particular to improve LTP Logistics’ board work as well as its management and monitoring systems. The aim is to double the company’s turnover within the next few years. In connection with the transaction, three experienced food sector experts were appointed to the company’s board of directors: Matti Perkonoja, former CEO of HKScan, Markku Kettinen, former purchasing director at Tuko Logistics, and Heikki Järvensivu, a food sector consultant.
“Evolving consumer demand keeps the food sector in a constant state of flux. The number of small and local producers is growing, deliveries are getting more frequent, and the range of package sizes is expanding. To respond to these changes in the business environment, LTP Logistics provides services that improve the efficiency in the management of the increasingly fragmented flow of goods. The company is highly valued by its clients, and it has the potential to continue its strong growth,” says Perkonoja, the newly appointed chairman of the board.
The founders of LTP Logistics Oy, Matti Tuominen and Jari Aaltonen, will retain stakes in LTP Logistics and continue working for the company. In addition to LTP Logistics, Vaaka Partners has also acquired majority holdings in two other companies belonging to the same service chain, Lännen Teollisuuspalvelu Oy and LTP Service Oy.
For more information, please contact:
Reijo Grönholm, Partner, Vaaka Partners
+358 500 403 057, reijo.gronholm(a)vaakapartners.fi
Matti Tuominen, CEO, LTP Group Oy
+358 40 503 5905, matti.tuominen(a)ltplogistics.fi
LTP Logistics Oy offers supply chain management solutions based on customer needs. Its services include order picking, warehousing, dispatching, and transporting products across Finland at a temperature of 0–3°C. The product range covers meat and processed meat, convenience food, and ready-to-eat food as well as bakery, fish, and dairy products. The company’s turnover is approximately EUR 20 million, and it currently employs 150 people. For more information, please visit www.ltplogistics.fi