PUBLISHER: Splash247 (www.splash247.com )
Revealing bumper record profits, A.P. Moller – Maersk today announced the acquisition of an American logistics provider.
The Danish transport giant is paying $1.68bn for Pilot Freight Services, a US-based first, middle and last mile as well as border crossing solutions provider, specialising in the big and bulky freight segment in North America for B2C and B2B distribution models. Maersk is buying Pilot from ATL Partners, a sector-focused private equity firm in New York and British Columbia Investment Management Corporation (BCI), one of the largest institutional investors in Canada.
“With the intended acquisition of Pilot, Maersk will extend its integrated logistics offering deeper into the supply chain of its customers,” Maersk stated in a release, saying Pilot would complement earlier acquisitions already made to provide integrated logistics solutions in North America, especially with Performance Team, a B2B warehousing and distribution firm and Visible SCM, an e-commerce warehousing and parcel distribution company.