M&A, JVs, and Alliances
Coventry-based logistics firm acquired by Danish group ?
- Carousel Logistics, part of the DANX Carousel Group, acquired Logik Logistics International
- Logik specializes in time-critical, on-demand logistics for industries like automotive, retail, and aerospace.
- Initially valued at ￡6MM in 2022, the sale yielded a 5.6x ROI
- Lars Ryssel, MD of DANX Carousel, stated that the acquisition expands their time-critical logistics and on-demand services
- Carousel has been involved in two transactions over the past three years
OIA Global acquires Sandford Freight
- OIA Global acquired Irish freight forwarder Sandford Freight
- The acquisition strengthens OIA's presence in Ireland and expands its reach to 27 countries
- “This move enhances our competitive strength and commitment to growth,” said CFO Youssef Annali
Bleckmann expands into Spain with B2Tex acquisition
- Bleckmann acquired a majority stake in fashion logistics specialist B2Tex
- B2Tex generated €62MM in 2023
- CEO Kurt Pierloot highlighted this acquisition as key to expanding into Southern Europe
- Bleckmann has completed one transaction in the past three years
OnLogistics acquires ExactLogistics?
- OnLogistics acquired Exact Logistics, expanding its e-commerce and order fulfillment services
- Exact Logistics specializes in final-mile distribution for European hauliers and has an in-house customs team
- OnLogistics has raised ￡350K to date
Ryder acquires mobile fleet maintenance provider Pit Stop
- Ryder System acquired Pit Stop, enhancing its mobile repair business, Torque by Ryder
- Pit Stop operates in eight Southeastern U.S. states
- The deal expands Torque's reach to 140 markets in 20 states and is expected to add $24MM in annual revenue
- Ryder earned nearly $12BN last year and has completed six transactions in the last three years
GLS acquires Hungarian e-commerce fulfillment company iLogistic
- GLS acquired Hungarian e-commerce fulfillment company iLogistic
- iLogistic is one of Hungary's largest fulfillment providers, specializing in scalable warehouse management and logistics solutions
- This acquisition supports GLS's expansion in adjacent markets
- GLS has completed two transactions in the past three years
UPS to acquire Mexican delivery company Estafeta
- UPS entered an agreement to acquire Estafeta, a provider of integrated logistics solutions in Mexico
- The acquisition aligns with UPS's strategy to become the world’s leading small package and logistics provider
- CEO Carol Tomé emphasized the benefits of combining UPS's scale with Estafeta's network
- UPS has completed seven transactions in the past three years
Scan Global Logistics acquires Blu Logistics Brasil
- Danish firm SGL Group acquired Blu Logistics Brazil through its subsidiary Scan Global Logistics
- Blu Logistics, a leading Brazilian freight forwarder, generated BRL 570MM in 2023
- The acquisition expands SGL’s operations in Brazil, with the deal expected to close in Q3 2024
- SGL has completed ten transactions and raised €1.4BN to date
Chazki merges with Lok to lead Latin American logistics
- Chazki, a Peruvian e-commerce logistics company, merged with Lok, a Mexican startup focused on smart lockers
- The merger aims to create a leading logistics platform in Latin America
- Lok raised US$5MM in its latest investment round, with a valuation of US$115MM
- Chazki has raised $7.9MM to date
Sennder acquires CH Robinson’s European business
- Sennder acquired C.H. Robinson’s European ground transportation assets in an all-cash deal
- This acquisition is expected to double Sennder's annual revenue to €1.4BN and place it among Europe’s top five full truckload providers
- The deal is expected to close in Q4 2024
- Sennder has raised $340MM to date
Sector news
Lineage raises $4.4BN in 2024’s largest IPO?
- Lineage Logistics, the global leader in cold storage, raised $4.44BN in its IPO, the largest U.S. debut this year
- The company priced nearly 57MM shares at $78 each, valuing it at over $18BN
- Lineage operates 482 temperature-controlled warehouses worldwide, serving over 13,000 clients
- Founded in 2008, Lineage generated $5.3BN in revenue last year
Serve Robotics secures $15MM in private placement
- Serve Robotics raised $15MM to expand its autonomous delivery services
- The funds include pre-funded warrants for 2.5MM shares and standard warrants at $6.00 per share
Cartken raises $10MM for AI-powered delivery robots ?
- Cartken secured $10MM, led by 468 Capital, bringing total funding to $22.5MM
- The funds will deepen partnerships, advance self-driving tech, and innovate delivery processes
Alvys raises $20.5MM for tech growth?
- Logistics software provider Alvys closed a $20.5MM Series A led by Titanium Venture
- Funds will accelerate growth, enhance platform development, and expand the team
- Alvys has raised $30MM to date
Allcargo Gati raises >$20MM ?
- Allcargo Gati raised >$20MM (INR 169.28 crore) through Qualified Institutional Placement
- The funds will strengthen finances, invest in tech and infrastructure, and reduce debt
Cart.com secures $105MM in debt refinancing ?
- Cart.com obtained a $105MM loan from BlackRock to fuel expansion
- The funds will support market expansion and enhance Cart.com’s Constellation OMS platform
- This follows a $25MM Series C extension, valuing the company at $1.2BN
Endor Labs receives strategic investment from Citi Ventures ???
- Endor Labs, specializing in software supply chain security, secured investment from Citi Ventures
- The funding follows a $70MM Series A last year, boosting their capabilities in secure software development
Mytra raises $78MM in Series B
- Robotics startup Mytra raised $78MM in Series B funding led by Greenoaks
- The investment will expand the team, enhance tech, and deploy systems for warehouse automation
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