PSA International announced on Dec 1, that it has signed an agreement with New York-based private equity firm Greenbriar Equity Group to acquire 100% of the shares in privately-held BDP International, a leading provider of global integrated supply chain, transportation and logistics solutions.
The transaction amount wasn't disclosed.
The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
BDP is headquartered in Philadelphia, US, and has 133 offices worldwide. The company specialises in the management of highly complex supply chains and is a proven industry leader in chemical and high care logistics and innovative visibility solutions.
According to PSA, it has been actively collaborating with its customers and partners to offer logistics and supply chain solutions beyond the port.
The port, with this investment, will benefit from BDP’s global expertise in end-to-end supply chain services. BDP can also leverage on PSA’s network of over 60 deepsea, rail and inland terminals worldwide, as well as affiliated businesses in distriparks, warehouses, logistics and marine services, to continue its growth plans.
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“This is an exciting time for us, as BDP will be PSA’s first major acquisition of this nature – a global integrated supply chain and transportation solutions provider with end-to-end logistics capabilities. Its strengths will complement and extend PSA’s capabilities to provide agile, resilient and innovative cargo solutions,” says Tan Chong Meng, group CEO of PSA International.
“Customers will be able to benefit from the extensive capabilities of both BDP and PSA, while accelerating their shift towards sustainable supply chains. We see this as a significant and strategic step forward in our vision to co-create an Internet of Logistics and we look forward to welcoming BDP into the PSA family,” he adds.
“The synergies between BDP and PSA are apparent, with foundations built on service excellence, delivering value to customers and stakeholders, and by creating rewarding careers for our colleagues,” says Mike Andaloro, CEO and President of BDP International.
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“With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimise global supply chain activities for our customers,” he continues.
Credit Suisse was the exclusive financial adviser to PSA International for this deal.
