First large acquisition for APL Logistics

APL Logistics (APLL) is purchasing GATX Logistics, which is the second largest warehouse-based contract logistics company in the United States and one of the top logistics players throughout North and South America.

GATX Logistics is majority owned by Oak Hill Capital Partners, L.P., and the Stephens Group, USA. The US$210 million acquisition increases APL Logistics' revenues by 70% or over $300 million. Further details are undisclosed.

APLL is the supply chain management arm of the Singapore-based NOL Group, which is engaged in global transportation and logistics business. GATX Logistics, headquartered in Jacksonville, Florida, operates approximately 21 million square feet (2 million square metres) of warehousing space throughout the Americas and is a sophisticated supply chain management company, providing integrated logistics solutions to many blue chip companies, and with growing operations throughout Latin America.

GATX Logistics will transition to the APL Logistics brand name over the next six months. Said Dick Metzler, CEO of APL Logistics, "This is an excellent example of the type of acquisition that fits our aggressive growth plans. The GATX Logistics team, under the leadership of Joe Nicosia, has built a technologically advanced and highly focused organisation, which is what we have been looking for to support our growth goals.