The Eden Prairie, Minn.-based third-party logistics provider has added Oceania as a new region to its Global Forwarding division, thanks to the company’s acquisition of Melbourne-based APC Logistics.
Eden Prairie, Minn.-based third-party logistics provider C.H. Robinson said Friday it has finalized the acquisition of APC Logistics, a freight forwarder and customs broker based out of Melbourne, Australia.
C.H. Robinson financed the $300 million AUD (U.S. $229.7 million, based on today’s exchange rate) acquisition, along with the related fees and expenses, with cash and funds drawn from its existing revolving credit facility.
With the acquisition, C.H. Robinson is adding Oceania as a new region to its Global Forwarding division, and is also integrating APC’s single global technology platform, Navisphere, into the division.
The acquisition is part of C.H. Robinson’s move into the international transportation market, which started four years ago with its acquisition of Chicago-based Phoenix International for $635 million.
The company also acquired Freightquote in 2015 for $365 million.
C.H. Robinson Chairman and CEO John Wiehoff discussed with American Shipper how the low cost of capital and the active investment community have boosted acquisition activity in the third-party logistics and freight brokerage markets in the last two years.
C.H. Robinson announced Aug. 31 it had entered into a definitive agreement to acquire APC.
APC will enhance C.H. Robinson’s Global forwarding business, which prior to the acquisition, has been serving four continents and 37 countries, and operating 109 offices worldwide with a staff of 3,500 employees.
APC has been providing ocean, air, customs brokerage and consultancy services. The company has seven offices in Australia and two offices in New Zealand, over 3,000 customers and suppliers, and about 300 employees. For its fiscal year that ended June 30, APC had $334.2 million AUD in total revenues.
“The marketplace response to this acquisition has been extremely positive since the announcement,” Wiehoff said.
“With this acquisition, our customers will have an extraordinary opportunity to benefit from the additional services and scale of C.H. Robinson,” APC Logistics CEO Tony Considine said.
C.H. Robinson finalizes APC Logistics acquisition
