Thielemann sells OLS stake
The company Fr. Meyer’s Sohn (FMS) has acquired a 49% stake in Overseas Logistic Services (OLS) that was previously held by the Thielemann Group, taking full ownership of the Mönchengladbach-based German company.
The move aims to strengthen FMS’s market position in western Germany. According to FMS the Thielemann Group plans to reinvest proceeds into its own business to refine its model and pursue growth. Navid Thielemann (pictured), who has led OLS since 2020, will remain managing director, having steered the company through the outbreak of Covid-19, restructured operations and relocated the headquarters to the Nordpark in Mönchengladbach.
The newly-founded firm Overseas Projects, which focuses on global project logistics, will continue as a joint venture between FMS and the Thielemann Group, with Hans-Bernd Effing serving as managing director. "The sale gives us flexibility to invest independently whilst growing sustainably," said Thielemann, CEO of the Thielemann Group. (js)