Late last week, Philadelphia-based global third-party logistics (3PL) services provider BDP International changed ownership, with PSA International Pte Ltd, a global port group and partner for myriad cargo stakeholders, announcing it acquired BDP from New York-based private equity firm Greenbriar Equity Group.
PSA said that the transaction is subject to formal approvals by the relevant authorities and other customary closing conditions. A purchase price was not disclosed.
BDP’s services focus on managing end-to-end movement of shipments across various segments and verticals, including: chemicals, industrial, healthcare, consumer and retail customers. BDP has more than 130 global offices, specializing in the management of highly complex supply chains and is a proven industry leader in chemical and high care logistics and innovative visibility solutions.
PSA officials said that the company “has been actively collaborating with its customers and partners to offer logistics and supply chain solutions beyond the port,” adding that with this investment, the company will benefit from BDP’s global expertise in end-to-end supply chain services, and BDP can leverage PSA’s network of more than 60 deep sea, rail and inland terminals worldwide, and also affiliated businesses in distriparks, warehouses, logistics and marine services.
For shippers and importers up against a volatile market and complex global logistics requirements, PSA said that bringing BDP into the fold will create opportunities for customized and sustainable offerings geared towards optimizing global supply chain processes.
“This is an exciting time for us, as BDP will be PSA’s first major acquisition of this nature—a global integrated supply chain and transportation solutions provider with end-to-end logistics capabilities,” said Tan Chong Meng, Group CEO of PSA International, in a statement. “Its strengths will complement and extend PSA’s capabilities to provide agile, resilient and innovative cargo solutions. Customers will be able to benefit from the extensive capabilities of both BDP and PSA, while accelerating their shift towards sustainable supply chains. We see this as a significant and strategic step forward in our vision to co-create an Internet of Logistics and we look forward to welcoming BDP into the PSA family.”
And Mike Andaloro, Chief Executive Officer and President of BDP International, said in the same statement that the synergies between BDP and PSA are apparent, with foundations built on service excellence, delivering value to customers and stakeholders, and by creating rewarding careers for our colleagues.
“With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimize global supply chain activities for our customers,” he said.
A PSA spokesperson told LM that, as for the competitive advantages this deal provides, global supply chains have increased in complexity and changed greatly, even in the last few years, resulting from certain global and structural shifts.
“For example, the rise of e-consumer power, technological changes, climate change, and other industry structural changes,” she said. “PSA aspires to co-create the shift towards sustainable trade flows, where supply chains are more agile, intelligent and resilient.”