As AP Moller-Maersk (Maersk) continues its acquisition trail, the company has announced the completion of its acquisition of Pilot Freight Services, a US-based international and domestic supply chain provider with cross-border solutions into Canada and Mexico. The company will be rebranded Pilot – A Maersk Company.
The deal would offer customised international, domestic and cross-border logistics to Maersk’s North America landside logistics capabilities for business-to-business (B2B) and business-to-consumer (B2C) distribution models, said Narin Phol, regional managing director of Maersk North America.
The combined Pilot and Maersk scale will offer customers approximately 150 facilities in the US, including distribution centres, hubs and stations.
“Pilot brings customised shipping and logistics expertise with a network of 190 global partners and a North American facilities-based network of 87 stations and hubs through which freight is transported and distributed to end customer,” said Phol. “The company uses mainly third-party providers of trucking and has access to controlled capacity which includes full truckload (FTL) and less-than-truckload (LTL) for both B2C and B2B distribution, including heavy and bulky shipments with white-glove service for expedited and time-definite services.”
The deal is valued at US$1.68 billion, which equals an enterprise value of $1.8bn post IFRS-16 lease liabilities.