Equity Capital GroupBacks Logistics Merger

GE Capital’s Equity Capital Group Europe (ECG Europe) provided L16 billion (ecu 8.2 million) to back the merger of two of Italy’s leading logistics businesses.

Merzario, a freight forwarding company with 18 bases worldwide and a turnover of L180 billion, has joined forces with Serra Group, a logistics operator specialising in the transportation of cars, aircraft components and electrical goods. The merged group, called SM Logistics, ranks as one of the largest non-vessel freight forwarders in the European Union.

Giovanni Bisignani, previously managing director of the state-owned ferry group Tirrenia and a former managing director of Alitalia, will head SM Logistics, which has a total workforce of around 1,150.