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Oman's Asyad acquires Skybridge to strengthen logistics presence
Asyad Group , Oman's end-to-end global logistics provider, has acquired Skybridge Freight Solutions (SFS), a global freight forwarding company.
The landmark Acquisition 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 USA and the GCC, supported by unhindered access to SFS' well-established, dynamic Network that covers over 90 geographies across six continents.
Now acquired by Asyad Group, SFS is a premier freight solutions provider offering 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.
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.
With these targeted moves, Asyad aims to ultimately redraw the global trade map. The SFS acquisition marks a significant milestone for the group and underlines its integrated logistics model that has consistently set new standards and trends in the logistics industry. The new addition is a critical step to pursue Asyad's portfolio diversification plans and uphold the group's unwavering commitment to its customers of increasing global service coverage.
By integrating the capabilities and market access of SFS, Asyad's flag will consistently make its way into prime global markets, opening new avenues for exponential growth and cementing the group's position as a reliable global logistics powerhouse.
With SFS now part of Asyad Group, the integrated logistics provider will take its bullish approach to global expansion forward with future plans focused on long-term financial returns and an enhanced offering of globally competitive logistics solutions to trade communities around the world.
Both Asyad and SFS customers will be the first to experience the returns of this integration through improved reach and heightened service excellence, exemplified by multimodal freight forwarding solutions.
Asyad will equip players in GCC markets with stronger connectivity to major cargo origin markets through SFS' network of associate offices that covers key trade location around the world from China and India in the east to the United States and Europe in the west.
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 percent compound annual growth rate in revenue and 73 percent 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.
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