Fortna acquires German logistics consulting firm to grow European footprint
Deal is first since Fortna itself was acquired by private equity firm THL in 2019.
Supply chain systems design and integration firm Fortna Inc. has acquired a German logistics design and consulting firm, saying the move will help Fortna build up its European presence and better service its client base internationally.
Fortna acquired Hamburg, Germany-based Pierau Unternehmensberatung GmbH—known as Pierau Planung—for an undisclosed sum and said its management team would join Fortna following the transaction and continue serving its European region.
The deal is the first purchase for the firm since West Reading, Pa.-based Fortna was itself acquired in 2019 by the Boston-based private equity firm Thomas H. Lee Partners L.P. (THL). While the terms of the deal were not disclosed, THL at the time said the move would give Fortna the resources to accelerate its growth in the e-commerce sector, including the potential for mergers and acquisitions (M&A) and continued geographic expansion.
That prediction has now come to pass, and according to Fortna it will pay off through leveraging Pierau Planung's industry expertise, client base, and team of supply chain and logistics experts. Pierau Planung provides management consulting services to supply chain clients in a variety of end-markets, including: e-commerce, retail, food & beverage, and industrial distribution.
"Under a new flag, Pierau Planung's team, location and project business will be retained with typical Hanseatic consistency," the German company said in a release, referring to the Hanseatic League, a trading alliance in northern Europe that spanned from the 13th to the 17th centuries. "However, the cooperation between the two companies offers impressive potential: for joint further development and for existing and new customers."
The deal marks the latest move by Fortna in a busy January so far. Earlier this month, the firm hired a new chief financial officer to replace the retiring Barry Malamud. In his place, Matthew S. Harrison will draw on his experience in the finance sector to manage Fortna's scope of domestic and global financial operations and become a member of Fortna's senior executive team responsible for driving sustainable, strategic revenue and profit growth, the company said.
Also in January, Fortna launched the latest release of its warehouse execution software (WES) platform, FortnaWES 2020 R1, saying the platform optimizes advanced algorithms for dynamic picking and further supports labor-enhancing technologies such as AS/RS, goods to person, and autonomous mobile robots (AMRs).
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