Done deals: May 24, 2023
Yusen Logistics & Taylored Services
Yusen Logistics has acquired Taylored Services, a U.S. multichannel 3PL fulfillment organization. Taylored Services will become part of Yusen Logistics (Americas) Inc., the U.S. operating company of Yusen Logistics Co., Ltd. and a subsidiary of NYK Group. The purchase agreement includes 11 distribution centres located near the ports of Los Angeles, Long Beach, New York/New Jersey, Savannah, and Miami, as well as in Louisville, totaling approximately 2.9 million square feet of Tier 1 distribution space. The respective Yusen Logistics and Taylored Services names and brands will remain in place.
SEL Supply Chain Solutions (SELSCS) & Descartes
Fort Worth, Texas-based SEL Supply Chain Solutions (SELSCS) is using Descartes to digitize its freight brokerage operations. SELSCS is using the cloud-based Descartes Aljex transportation management system (TMS), with Descartes MacroPoint for real-time freight visibility, load tracking and automated capacity sourcing.
SEKO & Happy Returns
SEKO Logistics (SEKO) is collaborating with Happy Returns, a PayPal company. SEKO clients will be able to offer their shoppers the option to use Happy Returns’ hassle-free, in-person return bars. With more than 5,000 locations, they offer consumers a way to return items to a growing list of more than 500 leading brands.
Hapag-Lloyd AG & JM Baxi Ports & Logistics Limited (JMBPL)
Hapag-Lloyd AG is acquiring 35 percent of JM Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate. Additionally, Hapag-Lloyd AG signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s shareholding to 40 percent. Financial details of the deal were not disclosed. JMBPL is a private terminal and inland transport service provider in India with container terminals, a multi-purpose terminal, inland container depots, container freight stations and additional logistics activities, such as rail service offerings across India. The company employs around 5,400 staff and handles a combined container volume of approximately 1.6 million TEU.