C.H. Robinson Acquires APC Logistics
The two companies have had a long-standing exclusive agent relationship for business in that region of the globe.
“This acquisition allows us to add great talent to our global forwarding team and advances the strategy to expand our global network,” said John Wiehoff, chairman and chief executive officer of C.H. Robinson. “We will work hard to successfully integrate the valued employees, customers and suppliers of APC.”
APC Logistics is a privately held international freight forwarder, providing ocean, air, customs brokerage and consultancy services, currently serving over 3,000 customers and suppliers. Founded in 1974 and headquartered in Melbourne, Australia, APC Logistics employs 300 people and has seven offices in Australia and two in New Zealand. APC had $251 million in total revenues for the fiscal year that ended June 30, 2016.
C.H. Robinson intends to purchase APC Logistics for $225 million in cash. The acquisition will be financed with cash and funds drawn from C.H. Robinson’s existing revolving credit facility.
“By joining C.H. Robinson, we are building on the business we have done together for more than 16 years,” said Tony Considine, chief executive officer of APC Logistics. “We believe this will position us to better serve our customers and foster growth by leveraging C.H. Robinson’s vast network and core service offerings.”
C.H. Robinson’s Global Forwarding business currently serves four continents and 37 countries, with approximately 3,500 employees and 109 offices worldwide, and is the number one non-vessel operator (NVO) from China to the United States. Global forwarding clients leverage C.H. Robinson’s considerable freight volumes to access available capacity at competitive rates.
“APC Logistics is a high quality company with a proven track record of success,” said Mike Short, President of C.H. Robinson’s global forwarding division. “Combining their expertise and strong customer and carrier relationships with C.H. Robinson’s service offerings and network will create more robust capabilities for our customers and add scale to our business.”
Once the deal closes, C.H. Robinson will integrate APC Logistics into its global forwarding division and single global technology platform, Navisphere.
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