Philadelphia and Singapore, Nov. 30, 2021 (GLOBE NEWSWIRE) -- JOINT NEWS RELEASE
PSA International Pte Ltd (“PSA”), a leading global port group and trusted partner to cargo stakeholders, has signed an Agreement to acquire 100% of the shares of privately-held BDP International, Inc. (“BDP”) – a leading provider of global integrated supply chain, transportation and logistics solutions – from New York-based private equity firm Greenbriar Equity Group, L.P. (“Greenbriar”). The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
Headquartered in Philadelphia, USA, BDP is a global logistics solutions provider managing end-to-end movement of shipments covering a range of industries and segments such as chemicals, industrial, healthcare, consumer and retail customers. With 133 offices worldwide, it specialises in the management of highly complex supply chains and is a proven industry leader in chemical and high care logistics and innovative visibility solutions.
PSA has been actively collaborating with its customers and partners to offer logistics and supply chain solutions beyond the port. With this investment, PSA will benefit from BDP’s global expertise in end-to-end supply chain services, while BDP can leverage PSA’s network of more than 60 deepsea, rail and inland terminals worldwide, as well as affiliated businesses in distriparks, warehouses, logistics and marine services, to continue its growth plans.
For shippers and importers who are confronted with a volatile market and increasingly complex global logistics requirements, this will create opportunities for customised and sustainable solutions that will help them optimise the international supply chain process.
Tan Chong Meng, Group CEO of PSA International, said, “This is an exciting time for us, as BDP will be PSA’s first major acquisition of this nature - a global integrated supply chain and transportation solutions provider with end-to-end logistics capabilities. Its strengths will complement and extend PSA’s capabilities to provide agile, resilient and innovative cargo solutions. Customers will be able to benefit from the extensive capabilities of both BDP and PSA, while accelerating their shift towards sustainable supply chains. We see this as a significant and strategic step forward in our vision to co-create an Internet of Logistics and we look forward to welcoming BDP into the PSA family.”
“The synergies between BDP and PSA are apparent, with foundations built on service excellence, delivering value to customers and stakeholders, and by creating rewarding careers for our colleagues,” noted Mike Andaloro, Chief Executive Officer and President of BDP International. “With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimise global supply chain activities for our customers.”
Since Greenbriar’s investment in December 2018, BDP has made significant investments in its technology and service offerings to provide customers with industry-leading end-to-end supply chain management across BDP’s complex global sectors.
Jill Raker, a Managing Partner of Greenbriar, said, “BDP’s strategic development and growth has been outstanding during our partnership with the Company. We were honoured to support BDP and the management team with the Company’s first outside investment and could not be more pleased to have the Company’s success and capabilities recognized by a world-class strategic owner like PSA. We look forward to seeing the continued innovations and customer solutions that BDP and PSA can achieve together.”
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ABOUT PSA INTERNATIONAL PTE LTD
PSA International (PSA) is a leading port group and trusted partner to cargo stakeholders. With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses, logistics and marine services. Drawing on the deep expertise and experience from a diverse global team, PSA actively collaborates with its customers and partners to deliver world-class port services alongside, develop innovative cargo solutions and co-create an Internet of Logistics. As the partner of choice in the global supply chain, PSA is “The World’s Port of Call”. Visit us at www.globalpsa.com, or follow us on LinkedIn and Facebook (@globalpsa).
Note to Editors: PSA dropped the name of “Port of Singapore Authority” in 1997 when it became a corporatised entity. The company should be referred to as “PSA International Pte Ltd” or simply “PSA”.
ABOUT BDP INTERNATIONAL, INC
With headquarters in Philadelphia and 133 offices worldwide, BDP International is a leading provider of global, integrated supply chain, transportation and logistics solutions. It serves more than 5,000 customers and provides a range of services, including lead logistics (LLP) and fourth-party logistics (4PL) solutions; ocean, air and ground transportation; origin management, export freight forwarding; import customs clearance and regulatory compliance; trade compliance, analytics and optimization solutions; project logistics; warehousing, and supply chain visibility and predictive ETA tracking through its proprietary technology BDP Smart®. Visit BDP at www.bdpinternational.com.
ABOUT GREENBRIAR EQUITY GROUP, L.P.
Founded in 1999, Greenbriar is a private equity firm managing over US$6 billion of total committed capital focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise and strategic insight alongside its proven operating capabilities and network of senior executive relationships. For more information visit: www.greenbriarequity.com.
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