Oman-based logistics provider Asyad Group has acquired Skybridge Freight Solutions (SFS), a multimodal freight forwarder headquartered in Dubai.

Asyad said the acquisition will expand its footprint in key "cargo origin economies", including China, India, Europe and the US.

 [Source: Asyad Group]

"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," the announcement said, noting that the company will have unhindered access to SFS' well-established, network that covers over 90 geographies across six continents.

SFS provides freight forwarding services via air, sea, and land, as well as offering warehousing and distribution. Established in 2007, SFS caters to a diverse range of major industries, including food, energy, automotive, pharmaceuticals, and construction.

"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," Asyad said.

It added that acquiring SFS will also play a "significant role" in bolstering Oman's connectivity with vital global trade routes.

"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," Asyad said.

It added that the Group will also equip players in GCC markets with stronger connectivity to major cargo origin markets through SFS' network of associate offices that covers key trade locations around the world from China and India in the east to the United States and Europe in the west."