Asyad Group, Oman's pioneering end-to-end global logistics provider, has acquired Skybridge Freight Solutions (SFS), a leading global freight forwarding company.
The landmark buyout is the group’s first international acquisition in core logistics activities and marks a strategic move to significantly expand Asyad’s footprint through active operations in key trade hubs and the major economies of China, India the US and the GCC, supported by unhindered access to SFS’ well-established, dynamic network that covers over 90 geographies across six continents.
SFS is a premier freight solutions provider offering leading freight forwarding services across air, sea and land in addition to warehousing and distribution. The fast-growing company boasts a strong financial footing and caters to a diverse array of major industries including food, energy, automotive, pharmaceuticals and construction. The company serves over 1,400 customers, including Fortune 500 and blue-chip companies, leveraging its longstanding relationships with global freight forwarding networks, government bodies, shipping lines and airlines to carve a substantial competitive edge and open multiple avenues for growth.
Bolstering competitiveness
With this acquisition, Asyad aims to bolster its competitiveness in the global marketplace by magnifying its end-to-end capabilities in providing unparalleled multimodal logistics services to meet evolving customer needs. The impacts of the recent acquisition are far-reaching and will extend across the entire logistics ecosystem, with more capabilities in freight forwarding leading to advances in supply chain, e-commerce, ports and container lines.
Additionally, Asyad will now have active operations in key cargo origin economies. As a result, the group – now leveraging SFS’ capabilities and network of associates – will reinforce its position as the partner of choice for international enterprises seeking comprehensive GCC logistics solutions under one integrated entity, setting itself apart by leveraging its advanced capabilities and Oman’s unique location and innate advantages.
Acquiring SFS will play a significant role in bolstering Oman’s connectivity with vital global trade routes. By unlocking new connections and strengthening existing ones with the world’s biggest markets, all logistics players will reap the benefits of unrestricted multimodal access and amplified trade opportunities resulting in higher volumes.--TradeArabia News Service
Asyad Group's year-over-year growth reflects a robust commercial mindset built around operational excellence and dynamic decision-making. In 2023, the group reported a 21% compound annual growth rate in revenue and 73% compound annual growth rate in profits, two record numbers in its history. The recent acquisition will further support Asyad’s ongoing streak of double-digit year-on-year growth by providing new opportunities and resources, ensuring sustained success and market leadership.
