Asyad acquires Skybridge Freight Solutions

Asyad said the acquisition is a strategic move to expand its footprint in China, India, the US, and the GCC. With the addition of SFS, Asyad aims to offer integrated logistics solutions in the UAE and leverage the geographic position of Oman as a trade hub.

Dubai-based SFS is a freight forwarder with sea, land, and air cargo operations serving over 1,400 customers across food, energy, automotive, pharmaceuticals and construction. It is the first international acquisition in Omani group Asyad’s core logistics activities.

As well as supporting its integrated logistics model, Asyad said the acquisition is a critical step in its portfolio diversification blueprint.

“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,” said Asyad.

Looking ahead, Asyad said it will take forward its bullish approach to global expansion focussed on long-term financial returns.

SFS and Asyad customers will experience improved reach and service levels from the merger, they said, with stronger links from GCC markets to major cargo origins.

Asyad’s acquisitions and investments have driven large increases in revenue and profit in recent years.

Related:Asyad Ports unveils new container terminal in Duqm, Oman