Maersk to Buy Pilot Freight Services
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A.P. Moller-Maersk intends to acquire Pilot Freight Services, the Danish ocean shipping company announced Feb. 9.
Pilot is a full-service global transportation and logistics provider based in Glen Mills, Pa. The company specializes in the big and bulky freight segment in North America. Copenhagen-based Maersk plans to extend its integrated logistics offering deeper into the supply chain with the acquisition. The planned transaction price is $1.68 billion.
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“In Maersk, we continue our path to develop truly integrated logistics offering for our customers, offering them better visibility, more control and resilience in their supply chains,” Vincent Clerc, CEO of ocean and logistics, said in a statement. “Adding the capabilities of Pilot is especially important because it will allow us to create more exciting solutions for our customers and support them through the acceleration of the migration toward e-commerce.”
Maersk said the pending deal will complement earlier acquisitions to provide integrated logistics solutions in North America, focusing on business-to-business warehousing and distribution, as well as e-commerce warehousing and parcel distribution.
Announcement: A.P. Moller – Maersk to acquire Pilot Freight Services, adding big and bulky first, middle, and last mile logistics to its landside logistics offering.
Full PR here: https://t.co/yASSnJ4og7#Maersk #Pilot #logistics pic.twitter.com/23B5Z9GepL — Maersk (@Maersk) February 9, 2022
Pilot will add new services within its big and bulky e-commerce segment to increase cross-selling opportunities. It also will create significant cost synergies by leveraging capabilities across the different parts of service solutions.
Pilot operates a facilities-based transportation network of 87 stations and hubs throughout North America. The company mainly uses third-party providers of trucking but has access to controlled capacity. Maersk said by combining with those operations, it will be able to offer customers about 150 facilities in the U.S., including distribution centers, hubs and stations.
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“We are looking forward to joining Maersk,” Pilot Freight Services CEO Zach Pollock said. “This is the ideal outcome for our customers, company and employees who will be able to tap into the ambitious transformation of simplifying and integrating global supply chains, which will enable us to perform on a larger stage.”
Maersk plans to acquire the company from sector-focused private equity firm ATL Partners and investment company British Columbia Investment Management Corp.
Pilot Freight Services ranks No. 46 on the Transport Topics Top 50 list of the largest logistics companies in North America.