BDO has advised the international group NGL Gondrand Group, a logistics services provider with more than 150 years of history, on the acquisition of a majority stake in Cargo Flores and Flores Aduanas, two Spanish companies specializing in logistics operations and customs brokerage services.
The multidisciplinary M&A team at BDO provided comprehensive advisory services, including financial, tax, legal, and labor due diligence, as well as the preparation and negotiation of the transaction documents. Diego Herrero, Director of the Legal-M&A department at BDO Abogados, led the advisory work on the negotiation and execution of the share purchase agreement and associated contractual documentation. On the sell side, MARIMÓN Abogados acted as legal advisor.
The acquisition brings together Cargo Flores, an international freight forwarder founded in 1990, and Flores Aduanas, a company specialized in customs representation, with the global structure of NGL Gondrand Group. The transaction provides the Spanish group with the strength and international network of an organization with over 100 offices and 1,000 employees across Europe, the Americas, and Africa. This strategic alliance enables Cargo Flores to expand its capabilities, gain access to new markets, and strengthen its position as a comprehensive logistics solutions provider in Spain.
The transaction supports NGL Gondrand Group’s expansion plan and marks the beginning of a new stage for Cargo Flores, which celebrates its 35th anniversary with greater resources and a global outlook.
The BDO M&A team members involved in the due diligence were: Georgina Torradas, Director of Transaction Services (financial due diligence); Mercedes Valldosera, Director of International Tax and M&A (tax due diligence); Diego Herrero (legal due diligence); and Juan Ignacio Olmos, Counsel in the Labor Department (labor and social security due diligence).
BDO is one of the world’s leading professional services organizations, offering Audit & Assurance, Advisory, Tax & Legal, and Business Services & Outsourcing (BSO). The global BDO network operates 1,800 offices in 166 countries, employing over 119,600 professionals.
In Spain, BDO currently has more than 1,300 professionals working in its offices located in A Coruña, Alicante, Barcelona, Bilbao, Las Palmas de Gran Canaria, Madrid, Málaga, Pamplona, Santander, Seville, Valencia, Valladolid, Vigo, and Zaragoza.
More information:
www.bdo.es
Photo (left to right): Xavi Casas, CEO and founding partner of Cargo Flores, and Rafael Torres, Managing Director of NGL Gondrand for Southern Europe and new President of Cargo Flores.*
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