Scan Global Logistics Buys OIA Global in Largest Deal of Its History

Scan Global Logistics has agreed to acquire Portland, Oregon-based OIA Global for an undisclosed sum, the largest investment in the Danish freight intermediary's history and a deal it says will place it among the top 20 freight forwarders in the world.

Announced late Wednesday, the proposed acquisition pairs a $2.82 billion-revenue Scandinavian forwarder with a U.S. logistics specialist that generated $780 million last year. Scan said the transaction strengthens its presence in the United States and other strategically important markets while expanding the supply chain capabilities it can offer customers beyond traditional freight forwarding.

Who is OIA Global?

Founded in 1988, OIA employs more than 1,200 people across more than 60 offices in over 30 countries. Its service range runs wide:

• Freight forwarding and customs brokerage
• Contract logistics and project logistics
• Prime contractor management
• Packaging design and materials management

Scan said the combination will complement its existing offering and give customers access to a broader set of supply chain solutions, making it easier to manage increasingly complex supply chains.

What does this change for shippers and forwarders?

For cargo owners, the merged entity brings warehousing, distribution and supply chain management alongside freight arrangement under one roof. That matters in a market where full-scale logistics providers — those offering more than transport booking — are winning share. Armstrong & Associates already ranks Scan as the 19th largest freight forwarder globally on gross revenue and ocean/air volume, and near the top 50 logistics providers by gross revenue.

For competitors, the deal signals continued consolidation. Acquisitions, mergers and investments in logistics have accelerated this year, especially in the United States, as the freight cycle turns more positive. Mid-sized forwarders without deep balance sheets now face rivals with broader service stacks and stronger U.S. coverage.

A serial acquirer with deep pockets

Scan has expanded rapidly since 2018 through a run of acquisitions across Africa, Europe and North America, plus new offices in several other countries. In 2021 it bought the international forwarding division of U.S. trucking giant Werner Enterprises. The company now counts more than 5,100 employees and over 200 offices worldwide.

Its financials show both the ambition and the cost of that pace. Last year Scan posted $2.82 billion in revenue, with adjusted EBITDA up 12% year over year to $244.2 million. It still lost $101.5 million, which management attributed to refinancing debt and financing the acquisition of Canada's ITN Logistics Group.

In other words, the OIA deal arrives while Scan is already digesting ITN and carrying acquisition-related financing costs. Growth through purchase, funded by leverage. The 12% EBITDA growth suggests the underlying business absorbs that pressure — but the net loss frames the risk if the freight cycle stalls.

Timing and approvals

The OIA transaction remains subject to customary regulatory approvals. Terms were not disclosed. Scan expects the deal to close in the first quarter of 2027, giving regulators and integration teams a long runway.

Until then, the two companies operate independently, and shippers with freight in either network should expect no immediate service changes. The real test comes after closing: whether Scan can fold OIA's contract logistics and project cargo muscle into its forwarding base without the integration friction that has tripped up other roll-up strategies.

With the freight cycle turning positive and consolidation accelerating, expect more deals of this shape — U.S.-focused targets, full-service capabilities, undisclosed terms — before the year is out.