Subscribe to our free, weekly email newsletter!


BDP International elects to keep business family-owned

By Jeff Berman, Group News Editor
August 10, 2012

When a Reuters report stated in April that global third-party logistics (3PL) services provider BDP International was in talks to with private equity firms to make the company available to be sold, BDP said that was not happening.

And roughly four months later BDP again reiterated that a sale is not in the works, with the company saying this week it has reached a decision to retain full family ownership of the company, following an evaluation of potential private equity investment.

The company said that following a comprehensive seven month review of the private equity market to diversify capital and growth, its owners, the Bolte family, and its board of directors have decided to retain full ownership of the company. And it added that BDP will continue to be owned and operated by the Bolte family and its current leadership team.

“We have learned from this experience and are appreciative of all of the groups with whom we engaged in dialog,” said BDP President and CEO Richard J. Bolte, Jr. in a statement. “Together with our board, we carefully studied all of the options, and ultimately decided our employees, customers, suppliers and the future of the BDP enterprise itself would be best served by retaining what we value most: our culture of caring for, growing with and attracting new customers.  This culture reflects our philosophy of personal accountability in which BDP personnel have the autonomy to adapt to the needs of clients and execute quickly.”

“BDP is not for sale,” said Arnie Bornstein, BDP International executive director of corporate communications, in an e-mail interview in April. “Our ownership, the Bolte family, believes in the Company’s future, sees strong upside potential and is exploring opportunities with private investors, to raise capital that will enable BDP to have added flexibility to build on its technology, expand global presence and help our customers grow. “ 

Bornstein added that the infusion of capital through outside investment is a normal course of activity for privately owned companies.

And he also said that BDP is in the most favorable position in its 45-year history, out-performing its industry and financial markets over much of the past decade. BDP will continue to be owned and operated by the Bolte family and its incumbent management team, he said.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

While it feels somewhat hard to fathom, the stage is set for the Council of Supply Chain Management Professionals (CSCMP) Annual Conference in San Antonio, Texas.

Carload volumes were up 1.4 percent at 300,388, and intermodal volume for the week ending September 13 was up 5 percent at 279,052 trailers and containers.

Company says the Cloud offering allows customers to respond more quickly to new business opportunities, without significant upfront cost and implementation times.

As e-commerce continues to take a bigger piece of the holiday package delivery pie, it stands to reason that companies need to be proactive and prepared in order to deliver premium service during the busiest time of year, which is rapidly approaching. And that is exactly what transportation giants UPS and FedEx are doing this year. How are they doing it exactly? The primary step they are taking is to up their numbers of seasonal staffers.

A recent hearing of the Subcommittee on Coast Guard and Maritime Transportation suggests that the U.S. Merchant Marine industry may be poised for a major comeback.

Article Topics

News · 3PL · BDP International · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA