APM Terminals’ acquisition of eight terminals from Grup Maritim TCB was completed in early 2016. Compared to 2015, performance improved significantly in these terminals.
25% Total revenue increase
7% Segment result increase
Note: Numbers exclude one‑off costs.
For 15 years, Miguel Duro has been commercial chief of Grup Maritim TCB and its 11 ports. So when news came through that APM Terminals was to acquire TCB, he was naturally concerned.
As one of two commercial leaders for TCB – in stark contrast to over 30 in APM Terminals – the scale of the task was daunting.
“We are a small company,” says Duro, who is now Sales and Marketing Director for APM Terminals Barcelona. “And as a small company, we’ve built the business entirely from developing close relationships with our customers.”
As buyer, APM Terminals shared his concerns, so over the last 12 months it has shaped an integration process that prioritises keeping those customer relationships and the people that built them.
“We bought a great business with a reputation for commercial and technical excellence,” says Martijn Van Dongen, appointed CEO of TCB in June after leading the integration process. “So how do we keep that magic but also make it work and thrive within APM Terminals? Well, partly, by just letting it run.”
Successful integration is about sharing responsibility for the development of the new organisation – a sentiment Van Dongen wanted understood from day one.