jul 22, 2026 - Voyfai – Introductory Meeting Summary

Description:

• James Maund; (Voyfai)
• Olivier (Currently Razor Group)
• Imran Farooq (Rödl)
• Usman Shabir (Rödl)

Key Actions
• US opportunity: Imran to introduce the Rödl US team as Voyfai is actively looking to establish operations in the US.
• UK opportunity: Olivier to facilitate further introductions regarding UK audit and compliance requirements.

Background
The meeting was arranged through Olivier at Razor Group, who is currently undertaking freelance work for Voyfai and is keen to introduce Rödl to the wider group.
Voyfai is a German-headquartered group focused on acquiring and growing freight forwarding businesses. The group primarily operates across Europe and Asia and is looking to expand further into the US.
Business Model
1. Acquisition Model
• Acquires majority stakes (typically 51–70%) in established freight forwarding businesses.
• Businesses retain their existing branding and local management.
• HQ provides centralised support including technology, AI workflow, procurement, HR, finance and data analytics.
• Procurement synergies are a key value driver, leveraging group buying power with shipping lines.
• Focus is on modernising predominantly family-owned businesses whilst supporting growth through additional investment and recruitment.
• Eight acquisitions are expected to complete by August 2026.
2. "Business in a Box" Model
• Partners with experienced freight forwarding entrepreneurs to establish new businesses.
• Voyfai provides the infrastructure and back-office support, with the entrepreneur running the business.
• Typically structured on an 80/20 ownership split.
• Currently established in the UK (5 entities), together with operations in the Netherlands, France, Spain and Germany.
Group Overview
• German holding company with German operating subsidiary.
• Approximately 40 employees at HQ.
• c.35–40 legal entities globally, including 4–5 in the UK.
• Around 500 employees worldwide.
• Expected FY2026 revenue of approximately €220m with €40m gross profit.
• No current withholding tax concerns within the group structure.
Current Advisors
Professional advisers are currently appointed locally by jurisdiction:
• UK audit – Azzets
• Germany – local tax and audit advisers
• Poland – local auditors
• Transfer Pricing – EY
• M&A support generally sourced locally depending on the jurisdiction.

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