SEKO Logistics has completed its largest acquisition to-date with its investment in Paris-headquartered transportation and logistics group Bansard International, merging the complementary geographic footprints and service offerings of the two companies.
In a statement, SEKO said the combination will produce significant benefits and growth opportunities for the clients and employees of both companies, as SEKO Logistics embarks on the latest stage of its global expansion strategy with the support of its equity investor, Ridgemont Equity Partners.
"This is SEKO’s largest strategic investment since selecting Ridgemont as its new investment partner in December 2020 and represents ‘a clear statement of intent’ of the company’s growth ambition," said James Gagne, SEKO’s President & CEO.
Bansard International is a transportation and logistics operators in France and, since its formation in 1963, has created a thriving international business spanning 54 offices in 17 countries.
It has about 600 employees and Bansard International achieved sales of more than €210 million in 2020, serving a diverse customer base in the retail/fashion, electronics, industrial, aerospace and pharmaceutical industries, among others.
SEKO noted that Simon Pinto, president of Bansard, will continue to lead Bansard, a formerly family-held company. He remains personally invested in the combined business and will continue to build the company’s product and service portfolio for Bansard’s more than 5,000 longstanding clients.
Bansard provides complete door-to-door logistics management services, covering consultancy, freight forwarding, warehousing, de/consolidation, transportation management, quality control, and customs clearance services.
Benefits cited for SEKO, Bansard clients
"SEKO and Bansard’s complementary service offerings will produce immediate benefits for each company’s clients. SEKO will offer Bansard’s clients the opportunity to grow their sales in the US and UK markets through access to its national network of stations, as well as SEKO’s fast-growing, cross border ecommerce and omni-channel fulfillment solutions," SEKO said.
SEKO added that it will benefit from Bansard’s highly‑respected business operations in France, international branches, strong Asia-Europe inbound air and ocean freight volumes, and innovative sustainability programs for carbon calculations and offsets.
"SEKO Logistics is primed for the next stage of our global growth but, in terms of acquisitions, we select our preferred partners with great care and due diligence. Bansard International is a perfect fit with our own business model as a mid-sized, independent, growth and technology-driven, client-obsessed organization," Gagne of SEKO said..
"There are so many positive aspects of our new collaboration. France is such an important logistics market, even more so since Brexit. Working with Bansard, we are making a long-term commitment to clients in France and those across the globe trading with France."
Gagne noted that in Europe, this new investment adds to SEKO’s strong presence in the United Kingdom, Ireland, the Netherlands and Denmark and puts us on a rapid upward trajectory.
"We are continuing to explore further investments to strengthen our global network and service portfolio," he added.
More future investments noted
Announcing Ridgemont Equity Partners, a Charlotte-based middle market buyout and growth equity investor, as its newest investment partner at the end of 2020, SEKO said the move launched the next phase of its expansion, with plans for additional acquisitions, technology platform investments, and growth in key geographies.
"This merger is a unique strategic opportunity that allows Bansard International to become a global player by covering new geographies, including the United States, and by offering our customers innovative international transport solutions, especially for e-commerce," SEKO said.