Kuehne+Nagel has agreed to sell to Partners Group a 24.9% equity stake in Apex International Corporation.
Following the transaction, Partners Group will join majority shareholder Kuehne+Nagel Group, one of the world’s leading logistics companies, with a seat on the Apex Board.
Founded in 2001 and headquartered in Shanghai, Apex is one of Asia’s leading freight forwarders, especially on the transpacific and intra-Asia trade routes. The Company has around 1,600 employees across 41 locations globally.
Partners Group will work alongside Kuehne+Nagel to implement a transformational value creation plan for Apex together with the Company’s management team. Key initiatives include establishing new freight forwarding routes; identifying new growth verticals, such as healthcare; and M&A.
Yngve Ruud, executive vice president air logistics, Kuehne+Nagel International AG, Chairman of Apex, commented: “On behalf of Kuehne+Nagel as well as Apex’s CEO Tony Song and his management team, we welcome the addition of Partners Group as a shareholder. By combining the financial and strategic expertise of Partners Group with the industry heritage and experience of Kuehne+Nagel, Apex will have access to a powerful partnership through which to consolidate our position in China and further develop the Company.”