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

As of July 1, only containers with a verified gross mass will be cleared to be loaded onto a ship under the International Maritime Organization’s Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM) amendment. Shippers hoping that the implementation of the ruling will be delayed or deferred are whistling in the dark, say industry analysts.

Amid the many worrisome economic indicators kicking around of late, something along the lines of good news came about this week in the form of United States new home sales data, issued by the United States Department of Commerce this week.

In March, the SCI came in at 0.4, which FTR described as “a near neutral reading” on the heels of four months of more favorable market trends for shippers.

The $4.8 billion acquisition of Netherlands-based TNT Express-NV, a provider of mail and courier services and the fourth largest global parcel operator, by transportation and logistics services provider FedEx was made official today.

less than one percent of all U.S. businesses export, and of those that do, the majority interacts only with NAFTA trading partners Mexico and Canada.

Article Topics

News · 3PL · BDP International · All topics

Comments

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


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA