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PSA has agreed to acquire from Greenbriar Equity Group 100% of shares in BDP International
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PSA said it has been actively seeking to offer logistics and supply chain solutions beyond the port
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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
Singapore-based PSA International Pte Ltd has signed an agreement to acquire BDP International, Inc., a US-based integrated transportation and logistics firm providing end-to-end supply chain services, the deal marking the global port operator’s first major acquisition of this nature.
A joint news release from the two firms on November 30 said PSA has agreed to acquire from New York-based private equity firm Greenbriar Equity Group 100% of the shares in BDP International. The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
The transaction amount wasn’t disclosed.
Headquartered in Philadelphia, BDP is a global logistics solutions provider managing end-to-end movement of shipments covering a range of industries and segments such as chemicals, industrial, healthcare, consumer and retail customers. With 133 offices worldwide, it specializes in managing highly complex supply chains as well as providing chemical and high care logistics and innovative visibility solutions.
PSA has been actively seeking to offer logistics and supply chain solutions beyond the port, the release said. With this investment, PSA will benefit from BDP’s global expertise in end-to-end supply chain services, while BDP can leverage PSA’s network of more than 60 deep-sea, rail and inland terminals worldwide, as well as affiliated businesses in industrial parks, warehouses, logistics and marine services, to continue its growth plans, the statement said.
For shippers and importers who are confronted with a volatile market and increasingly complex global logistics requirements, this will create opportunities for customized and sustainable solutions that will help them optimize the international supply chain process, the release further stated.
Tan Chong Meng, group CEO of PSA International, said, “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.”
He added: “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.”
“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,” noted Mike Andaloro, CEO and president of BDP International. “With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimize global supply chain activities for our customers.”
Analysts said the agreement highlights PSA’s attempt to keep up with ocean carriers and rival port operators that have been raising their presence in the logistics and freight forwarding markets.
Photo courtesy of PSA
