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Geodis close to buying Ozburn-Hessey Logistics for US$800 million
FRENCH transport and logistics operator, Geodis, is on the verge of clinching an US$800 million deal to acquire US-based third party logistics (3PL) provider Ozburn-Hessey Logistics (OHL), according to a number of media reports that quoted sources familiar with the deal.
Contacted by Lloyd's Loading List, the logistics and forwarding arm of freight group SNCF Logistics, which is a part of French state railway group SNCF, declined to comment on the reports.
OHL, which was founded in 1951 and is based in Brentwood, Tennessee, is controlled by private equity firms Welsh, Carson, Anderson & Stowe and Hyde Park Holdings. The company operates 120 distribution centres and has warehousing stock of 350,000 square metres.
The company serves a range of business sectors with its customer portfolio said to include Starbucks, Apple, Red Bull and General Motors. It also offers transport management, customs brokerage and international transport for air and ocean freight.
Apart from the US, it has international offices in Hong Kong, Canada, mainland China, Malaysia, Singapore, Taiwan, Vietnam, Australia, Britain and the Netherlands.
The company has often cited a relatively weak presence in the US in building a worldwide geographical network, viewed as essential if it wants to be considered as top-ranking player in the sector.
Although Geodis was relatively active in terms of acquisitions in the five years prior to 2012, including the EUR460 million (US$511 million) purchase of TNT Freight Management in 2007, it has not made any major acquisitions since then. It has an international network spread over 120 countries.
Contacted by Lloyd's Loading List, the logistics and forwarding arm of freight group SNCF Logistics, which is a part of French state railway group SNCF, declined to comment on the reports.
OHL, which was founded in 1951 and is based in Brentwood, Tennessee, is controlled by private equity firms Welsh, Carson, Anderson & Stowe and Hyde Park Holdings. The company operates 120 distribution centres and has warehousing stock of 350,000 square metres.
The company serves a range of business sectors with its customer portfolio said to include Starbucks, Apple, Red Bull and General Motors. It also offers transport management, customs brokerage and international transport for air and ocean freight.
Apart from the US, it has international offices in Hong Kong, Canada, mainland China, Malaysia, Singapore, Taiwan, Vietnam, Australia, Britain and the Netherlands.
The company has often cited a relatively weak presence in the US in building a worldwide geographical network, viewed as essential if it wants to be considered as top-ranking player in the sector.
Although Geodis was relatively active in terms of acquisitions in the five years prior to 2012, including the EUR460 million (US$511 million) purchase of TNT Freight Management in 2007, it has not made any major acquisitions since then. It has an international network spread over 120 countries.
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