DSV A/S is a Danish transport and logistics company offering transport services globally by road, air, sea and train. Since its foundation in 1976 by nine independent Danish hauliers, the company has achieved rapid expansion and international presence, predominantly through a series of strategic competitor acquisitions, some of the most important ones being Samson Transport (1997), DFDS Dan Transport Group (2000), J.H.Bachmann (2004), Frans Maas (2006), ABX LOGISTICS (2008) and UTi Worldwide, Inc. in 2016. In April 2019, DSV signed an agreement to acquire Panalpina Welttransport (Holding) AG and the deal was closed in August 2019. With headquarters in Hedehusene (near Copenhagen), Denmark, and offices in more than 80 countries, DSV employs 56,000 people and collaborates with partners and agents globally. The company is listed on NASDAQ OMX Copenhagen (Copenhagen Stock Exchange) and included in the OMXC25 index as one of the 25 most traded stocks. The company is structured in three divisions, Road, Air & Sea, and Solutions. Its main activities lie within road transport (trucking) networks in Europe, North America and South Africa, and its global air and sea freight forwarding business. The group also has a growing contract logistics business. As part of an asset-light financial strategy to maintain fixed costs at a minimum and be able to quickly respond to market fluctuations, the group does not own any ships or aeroplanes and only a relatively small number of trucks and trailers. Jens Bjørn Andersen became CEO in August 2008. In 2020, the company reported a net revenue of DKKm 115,932. History In 1976, Leif Tullberg and nine independent haulers established DSV, an initialism for “De Sammensluttede Vognmænd af 13-7 1976 A/S” (The Joint Hauliers of 13-7 1976). Leif Tullberg remained CEO until his retirement in 2005. He was succeeded by Kurt Larsen who became Chairman of the Board of Directors in 2008 when Jens Bjørn Andersen took over as CEO. During the first decade the company mainly functioned as a cartage department for the owners, handling contracting haulage and deliveries. Seeking a foothold on the international market, DSV bought two competing export companies in 1989, Borup Autotransport A/S and Hammerbro A/S-Bech Trans. The next acquisitions on the road to becoming Pan-European were Samson Transport Co. A/S in 1997 and Svex Group A/S in 1999. The purchase of the DFDS Dan Transport Group in 2000 provided DSV with important road transport activities in Scandinavia, the UK, several