Australia: CH Robinson buys APC Logistics for $229m

Visual from company website

US-based third-party logistics providers (3PL) CH Robinson has expanded anew its global presence with the acquisition of APC Logistics, a freight forwarding and customs brokerage services firm in Australia.

CH Robinson disclosed it completed the acquisition ammounting up to $229 million (AU$300 million), paying related fees and expenses with cash and funds drawn from the company’s existing revolving credit facility.

Headquartered in Eden Prairie, Minnesota, CH Robinson believes APC brings additional capabilities and expertise to the company’s portfolio.

Also Read: Carlyle exits Australia’s Qube Logistics in $264m deal

“The company expects the transaction to be modestly accretive to earnings,” CH Robinson said in its statement.

Incorporated in 2000, APC Logistics claims to have over 3,000 customers and suppliers in Australia and New Zealand. It operates in more than 110 locations in 60 countries, managing 200 logistics facilities covering over 20 million square feet globally.

With the acquisition, CH Robinson will add a new region to its global forwarding division the Oceania, and APC will onboard onto CH Robinson’s global technology platform the Navisphere.

Also Read: India: TVS Logistics buys majority stake in Australia’s Transtar for $31m

CH Robinson chairman and CEO John Wiehoff said the marketplace response to the acquisition has been extremely positive since the announcement.

Meanwhile, APC Logistics CEO Tony Considine said that with the acquisition, APC customers will have an extraordinary opportunity to benefit from the additional services and scale of CH Robinson.

As a 3PL firm, CH Robinson’s portfolio of logistics services include fresh produce sourcing and managed services for more than 110,000 customers and 68,000 contract carriers through its integrated network of 280 offices and more than 13,000 employees. The company’s gross revenues hit $13.5 billion last year.

Also Read: Australia: JPMorgan acquires $215m Melbourne tower; Propertylink seals $107m buyout of Denison fund assets

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.