PSA International Pte Ltd (PSA) has signed an agreement to acquire 100% of the shares of privately-held BDP International, Inc. (BDP) – a provider of global integrated supply chain, transportation and logistics solutions – from New York-based private equity firm Greenbriar Equity Group, L.P.(Greenbriar).
In a release jointly issued by the firms, it noted that the transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
BDP, headquartered in Philadelphia, USA 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.
It has 133 offices worldwide and 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.
End-to-end supply chain solution
Meanwhile, global port group 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," the statement said.
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, it added.
"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 willcomplement and extend PSA’s capabilities to provide agile, resilient and innovative cargo solutions," said Tan Chong Meng, Group CEO of PSA International.
"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 PSA International chief added.
Mike Andaloro, chief executive officer and president of BDP International, for his part, highlighted the "synergies between BDP and PSA" that are "apparent."
"With foundations built on service excellence, delivering value to customers and stakeholders, and by creating rewarding careers for our colleagues," Andaloro said. "With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimiseglobal 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 supplychain 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," Raker added.
