J M Baxi Group to Acquire Allcargo Logistics Limited’s Project Forwarding and Logistics Business
J M Baxi Heavy Private Limited has signed a definitive agreement to acquire Allcargo Logistics Limited’s Project Forwarding & Logistics Business. It has also provided a binding offer to Lift and Shift India Private Limited (Lift and Shift), to acquire its heavy and over-dimension cargo logistics business.
Lift and Shift has accepted the binding offer, which is subject to the execution of a definitive agreement for the business transfer between the parties. Both transactions are subject to completion, which is expected in the coming weeks. On completion, both businesses will merge into J M Baxi Heavy Pvt. Ltd., a wholly owned subsidiary of J M Baxi Ports & Logistics Limited.
Lift & Shift brings with it, a specialization in engineered logistics services for the niche and growing category of super-heavy lifting, shifting and multimodal transportation. It caters to sectors such as petrochemicals, hydrocarbon, fertilizers, renewable energy, power generation, civil construction, large scale manufacturing and prominently offshore oil & gas industry. Together, J M Baxi Heavy and Lift & Shift will have the largest fleet of specialty equipment for over-dimensional & heavy cargo logistics like Self Propelled Modular Trailers (SPMT), barges and lifting equipment.
This will enable JM Baxi Heavy to reach a wider customer base, improve its service proposition and create synergies in efficiency building, while being able to mobilize equipment and personnel swiftly, anywhere within India.
Allcargo’s Project Forwarding and Logistics business will add to J M Baxi Heavy’s existing network with enhanced geographical presence in the Indian sub-continent and Africa, as well as diverse clientele in the Project Forwarding and Logistics sector. Additionally, backed by its excellence in customised lifting and transportation solutions, Allcargo’s expertise in project forwarding and long-haul transportation of heavy/over-dimension cargo will further bolster JM Baxi Heavy’s existing strengths in this segment.
JM Baxi Group has truly proved its capabilities in contributing to it. Allcargo and JM Baxi are happy to partner with each other in making this transaction successful. This will be good for industry, customers and employees as businesses and capabilities come together. At Allcargo, this exit is aligned with our strategy to focus on Allcargo Group’s core business. I have no doubt that the new entity under JM Baxi Group leadership will play a key role in the project logistics support for infrastructure development, not just in India but also other developing countries. My best wishes to the teams.
About the J M Baxi Group
J M Baxi is a 106 year-old business conglomerate, in marine services, ports, logistics and technology. Our professionally managed companies span the entire logistics services value chain including port facilities such as container and multi-cargo port terminals, container freight stations and inland container depots, niche logistics services for project and bulk cargo, offshore installations and ship agency services.
About J M Baxi Ports and Logistics
J M Baxi Ports & Logistics has well-established network of maritime and inland terminals, integrated with hinterland connectivity and specialized value-added logistics services.
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