Kuehne+Nagel announced earlier this week that it will sell 24.9 percent of its stake in Chinese forwarder Apex International Corporation to private equity firm Partners Group. Partners Group will work alongside fellow Swiss company K+N to implement a ‘transformational value creation plan’ for Apex together with its management team, as part of the board. The investment management firms says key initiatives include establishing new freight forwarding routes, identifying new growth verticals … [Read more...] about Kuehne+Nagel to sell Apex minor stake to Partners Group
Apex International
Kuehne+Nagel completes Apex acquisition
Kuehne+Nagel has completed the acquisition of Chinese forwarder Apex International with a purchase price of more than US$1.2 billion (CHF 1.1 billion), adding significant forwarding expertise, particularly on the transpacific and intra-Asia routes. The forwarder says it will offer customers a 'compelling' value proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility. Also read: Kuehne+Nagel teams up with pharma distributor … [Read more...] about Kuehne+Nagel completes Apex acquisition
Kuehne+Nagel to buy Asian forwarder Apex International
Kuehne+Nagel is set to expand its footprint in Asia Pacific after it agreed to buy freight forwarder Apex International, which the Swiss company described as the “largest acquisition in its history.” In a press release, the two parties have agreed to not disclose any transaction details, but a Bloomberg report valued the purchase at US$1.5 billion. Apex was founded in China in 2001 and has expanded throughout Asia, with particular focus on the transpacific and intra-Asia routes. In 2015, … [Read more...] about Kuehne+Nagel to buy Asian forwarder Apex International
