New York-based Accelerated Global Solutions (AGS) has acquired a 15% stake in KGW Logistics to strengthen its presence on the transpacific trade lane.
Malaysia-headquartered KGW Logistics provides ocean and airfreight services with a strong presence on the transpacific trade lane. The company also provides customs brokerage, warehousing services and distribution for healthcare products.
In return, KGW gains access to AGS’s global network, which includes strategically located warehouses and last-mile delivery across North America, Greater China, Southeast Asia and Europe.
AGS chief executive Chris Zheng, who is also the founder of last mile firm SpeedX, said the investment supports his ambition to build a $1bn end-to-end supply chain solution infrastructure within 18 months, following his acquisition of AGS in November.
Dato’ Roger Wong, managing director of KGW Group, said: “This strategic alliance marks an exciting chapter for us. With AGS’s extensive airfreight and customs expertise and SpeedX’s innovative last-mile delivery capabilities, we are redefining the logistics experience for our clients."
The two companies are hoping that they can bridge international freight forwarding and last-mile delivery.
Further acquisitions and investments are expected by AGS in the future.
When SpeedX announced its acquisition of AGS in 2024, the company said it had further plans to expand in Southeast Asia, Australia, and the Europe, Middle East and Africa region while executing an ambitious M&A strategy.
