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Tuesday, January 31, 2023
Home Most Visited Maersk agrees to buy US transportation and logistics firm for US$1.68 billion

Maersk agrees to buy US transportation and logistics firm for US$1.68 billion

Maersk has announced its intention to acquire the US-based transportation and logistics company Pilot Freight Services for US$1.68 billion with the closing of the transaction being expected during the second quarter of 2022.

The Danish global shipping company will buy Pilot from ATL Partners, a sector-focused private equity firm in New York launched in 2014 and British Columbia Investment Management Corporation (BCI), an investment company in Canada.

Maersk believes that with Pilot's addition, it will be able to provide its customers with premium big and bulky last mile delivery services, enhanced middle mile capacity, and additional cross border Mexico/Canada - US solutions.

Formed in 1970, Pilot is a full-service transportation and logistics provider with 87 locations throughout North America and deep B2C expertise in retail, home furnishing and consumer electronics.

The combined Pilot and Maersk scale will offer customers over 150 facilities in the US, including distribution centers, hubs and stations, according to a statement.

Pilot specialises in the big and bulky freight segment for B2C and B2B distribution models, which includes factory-to-couch logistics for heavy and hard to handle goods.

Until the closing of the transaction, Maersk and Pilot Freight Services shall continue operating as separate entities.

Antonis Karamalegkos
Managing Editor

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