PSA International (PSA) has completed the acquisition of 100% of the shares of BDP International (BDP) the provider of transportation and logistics solutions, from the private equity firm Greenbriar Equity Group.
This follows the receipt of formal approvals from relevant authorities required by the merger agreement, initially announced in December 2021.
“I am pleased to welcome BDP’s over 5,000 talented employees into the PSA family,” commented Tan Chong Meng, Group CEO of PSA International.
“Leveraging our complementary capabilities and footprints, we envision a future that will bring out the best of both BDP and PSA, unlocking greater value for cargo owners, creating new opportunities for business growth, and enabling fresh innovations for more agile, resilient, and sustainable supply chains,” added Chong Meng.
Together, PSA and BDP are planning to extend their logistics ecosystem with solutions that focus on “supply chain orchestration” and “cargo flow optimisation.”
In addition, the acquisition of BDP is anticipated to strengthen PSA’s logistics and supply chain offerings beyond the port, while BDP customers can also benefit from connectivity to PSA’s global network, including deepsea, rail and inland terminals, as well as affiliated businesses in warehouses and marine services, according to a statement.
Mike Andaloro, CEO and president of BDP International said, “This transformative acquisition presents us with the unique opportunity to re-imagine supply chain solutions by combining the strengths of our asset-light solutions model with PSA’s impressive global infrastructure.”
During the acquisition process, Credit Suisse served as sole financial advisor to PSA, while Shearman & Sterling LLP acted as legal advisor to PSA.
