News Content
American 3PL consolidation continues with major US deal
MAJOR American 3PLs Jacksonville-based Sunteck and Dallas-based TTS have agreed to merge to establish SunteckTTS, a joint statement from the companies has revealed.
The two companies said the merger would create "one of the largest, multimodal, agent-based freight management service providers in the US, approaching US$1 billion in gross revenue, and managing more than 700,000 intermodal, truckload and less-than-truckload shipments annually", reported Lloyd's Loading List.
Sunteck CEO Ken Forster will serve as the president and CEO of SunteckTTS and TTS chief executive Andy Cole will act a chairman.
A PricewaterhouseCoopers (PwC) report into T&L consolidation said third quarter activity had remained "strong" with five mega deals completed with a total aggregate disclosed value of US$14 billion.
"The Shipping category was stable in deal volume but saw a surge in deal value driven by Investor Group's acquisition of Port of Melbourne Corp for $7.3 billion - the largest mega deal in the T&L sector in Q3 2016," said PwC. "The Logistics category saw a 20 per cent increase in deal volume this quarter on a year-on-year basis.
"Deal value in this category grew by more than three times to US$4.8 billion over the past year," the PwC reports said.
A statement from the companies also claimed the merger would better meet the needs of shippers who increasingly required "more complex and robust data solutions and increased size and leverage within the logistics sector" while smaller 3PLs, or agent-based models, would in future "need to leverage the increased buying power and resources of companies ike SunteckTTS".
The two companies said the merger would create "one of the largest, multimodal, agent-based freight management service providers in the US, approaching US$1 billion in gross revenue, and managing more than 700,000 intermodal, truckload and less-than-truckload shipments annually", reported Lloyd's Loading List.
Sunteck CEO Ken Forster will serve as the president and CEO of SunteckTTS and TTS chief executive Andy Cole will act a chairman.
A PricewaterhouseCoopers (PwC) report into T&L consolidation said third quarter activity had remained "strong" with five mega deals completed with a total aggregate disclosed value of US$14 billion.
"The Shipping category was stable in deal volume but saw a surge in deal value driven by Investor Group's acquisition of Port of Melbourne Corp for $7.3 billion - the largest mega deal in the T&L sector in Q3 2016," said PwC. "The Logistics category saw a 20 per cent increase in deal volume this quarter on a year-on-year basis.
"Deal value in this category grew by more than three times to US$4.8 billion over the past year," the PwC reports said.
A statement from the companies also claimed the merger would better meet the needs of shippers who increasingly required "more complex and robust data solutions and increased size and leverage within the logistics sector" while smaller 3PLs, or agent-based models, would in future "need to leverage the increased buying power and resources of companies ike SunteckTTS".
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
