Thursday, September 1, 2016

Australian Freight Forwarder and Customs Broker Bought by US Based Logistics Group

Long Standing International Partners Join Together
Shipping News Feature
AUSTRALIA – NEW ZEALAND – US – Worldwide logistics provider CH Robinson has entered into a definitive agreement to acquire Australian based freight forwarder and customs broker, APC Logistics, for approximately A$300 million, subject to customary closing conditions. The two companies have had a long-standing exclusive agent relationship for business in Australia and New Zealand and once the deal closes, CH Robinson will integrate APC Logistics into its Global Forwarding division and single global technology platform, Navisphere®. Tony Considine, Chief Executive Officer of APC Logistics, said:

“By joining CH Robinson, we are building on the business we have done together for more than 16 years. We are extremely excited to have our business be part of CH Robinson, a leading global company, and believe this will position us to better serve our customers and foster growth by leveraging CH Robinson’s vast network and core service offerings.”

APC Logistics is a privately held international freight forwarder, providing ocean, air, customs brokerage and consultancy services, currently serving over 3,000 customers and suppliers. Founded in 1974 and headquartered in Melbourne, Australia, APC Logistics employs approximately 300 people and has seven offices in Australia and two offices in New Zealand. APC had A$334.2 million (approximately US$251 million) in total revenues for the fiscal year ended June 30, 2016.

CH Robinson intends to purchase APC Logistics for approximately A$300 million (approximately US$225 million) in cash. The acquisition is expected to be accretive in 2016 and 2017 and will be financed through cash and funds drawn from CH Robinson’s existing revolving credit facility. John Wiehoff, Chairman and Chief Executive Officer of CH Robinson, commented:

“This acquisition allows us to add great talent to our Global Forwarding team and advances the strategy to expand our global network. We will work hard to successfully integrate the valued employees, customers and suppliers of APC.”