SEKO looks to acquisitions following investment
08 / 01 / 2021
By Damian Brett
James T. Gagne - SEKO Logistics
SEKO Logistics is targeting additional acquisitions, technology development and growth in key geographies after securing investment from Ridgemont Equity Partners.
The deal will see the logistics firm’s current majority shareholder, Greenbriar Equity Group, divest its stake but remain an equity owner. Terms of the transaction were not disclosed.
“Today’s announcement marks the next stage of SEKO’s growth ambition. We are always focused on our clients, first and foremost, and how we can best serve their supply chain and demand chain needs,” said James Gagne, President and chief executive of SEKO.
“Ridgemont has extensive and highly relevant experience growing third-party logistics providers by investing in technology, hiring talented people, and acquiring strategic businesses.
“These initiatives have been at the core of SEKO’s growth in recent years and, with Ridgemont’s support, we will accelerate SEKO’s capabilities and ultimately benefit our customers at the local and international levels.
“We have attracted outstanding partners in Ridgemont and Greenbriar and the future has never looked brighter for SEKO, our people and, most importantly, our customers.”
“Although they are divesting their majority stake in the company, Greenbriar will remain a significant equity partner through a new equity investment, which clearly demonstrates their continuing confidence in SEKO and what we can achieve with new investment from Ridgemont.
“We are entering the next phase of our growth with plans for additional acquisitions, investments in our technology platform as well as further expansion in key geographies in Europe, North America and Asia.”
In a shift from purely organic growth, SEKO recently acquired freight forwarder, GoodShip International, and cross-border e-commerce specialists and airfreight forwarder Air-City. SEKO has also acquired a majority position in its strategic partner Omni-Channel Logistics Australia.