Logistics Top Stories
Kuehne+Nagel Apex International_GBO_Image

Kuehne+Nagel to acquire Apex International

Apex International was incorporated in 2001 and has expanded its presence across Asia and beyond

Swiss logistics company Kuehne+Nagel will take over Apex International, a Chinese logistics major, for an undisclosed amount. The move by Kuehne+Nagel marks its expansion into the Asian marketplace while making it the largest acquisition to date in the company’s history.

It is reported that the acquisition will be finance by Kuehne+Nagel through liquid sources or credit lines. Apex International will keep a minor stake with itself once the acquisition is completed. The company is expected to operate separately within Kuehne+Nagel.

Furthermore, Apex International was incorporated in 2001 and has expanded its presence across Asia and beyond. MBK Partners, a private equity firm, acquired majority of the shares of Apex International in 2015.

Apex International has around 1,600 employees. It is reported that the company generates yearly turnover of $2.3 billion. In 2020, the company handled nearly 750,000 tons of air freight and 190,000 teu of ocean shipments.

Tony Song, chairman of the Board of Directors and CEO of Apex, told the media, “Kuehne+Nagel would be a strategic shareholder that would add value to its customers and existing operations. With Kuehne+Nagel, we have found a strategic shareholder and logistics group with more than 130 years of heritage. We are sure that with this transaction, we will be able to add value to our customers’ supply chains and expand our global logistics network. We will complement Kuehne+Nagel’s existing global Air Logistics team while offering our management and key talents unique career opportunities.”

The global pandemic has affected the logistics segment like any other segment.

Related posts

BYON8 raises $1.5 mn funding to expand its healthcare business in Africa

GBO Correspondent

AET Tanker Holdings is hopeful about LNG’s maritime decarbonisation

GBO Correspondent

Singapore VC Expara to support startups fighting Covid-19

GBO Correspondent