CH Robinson swoops on Australian forwarder
12 / 09 / 2016
CH Robinson has expanded its presence in Australasia with the acquisition of forwarder and customs brokerage provider APC Logistics.
The US forwarder and trucking giant said it would pay around $225m for APC, with which it has had a long standing exclusive agent relationship.
The agreement is subject to certain customary closing conditions, including regulatory approval.
APC Logistics, which was founded in 1974, is a Melbourne headquartered privately held international freight forwarder, providing ocean, air, customs brokerage and consultancy services, currently serving over 3,000 customers and suppliers.
The company employs approximately 300 people and has seven offices in Australia and two offices in New Zealand.
APC revenues totalled $251m for the fiscal year ended June 30, 2016. 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.
Once the deal closes, C.H. Robinson will integrate APC Logistics into its Global Forwarding division and single global technology platform, Navisphere.
APC Logistics chief executive Tony Considine 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 C.H. 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.”
CH Robinson chairman and chief executive John Wiehoff said: “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.”