M&A Deal Summary

Maersk Acquires Pilot Freight Services

On February 9, 2022, Maersk acquired transportation company Pilot Freight Services from British Columbia Investment Management and ATL Partners for 1.7B USD

Acquisition Highlights
  • This is Maersk’s 5th transaction in the Transportation sector.
  • This is Maersk’s 3rd largest (disclosed) transaction.
  • This is Maersk’s 4th transaction in the United States.
  • This is Maersk’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2022-02-09
Target Pilot Freight Services
Sector Transportation
Buyer(s) Maersk
Sellers(s) British Columbia Investment Management
ATL Partners
Deal Type Add-on Acquisition
Deal Value 1.7B USD
Advisor(s) Harris Williams & Co. (Financial)

Target

Pilot Freight Services

Glen Mills, Pennsylvania, United States
website
Pilot Freight Services is a transportation and logistics provider with over 75 locations throughout North America and Western Europe. The company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, e-commerce, and home delivery solutions, product warehousing, and inventory management. Pilot Freight Services was founded in 1970 and is based in Glen Mills, Pennsylvania.

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Buyer(S) 1

Buyer

Maersk

Copenhagen, Denmark

website

Category Company
Founded 1904
Sector Transportation
Employees95,000
Revenue 61.8B USD (2021)
DESCRIPTION

A.P. Møller - Mærsk A/S is a global shipping and oil/gas company. Maersk consists of a collection of companies operating within the two main industries of shipping and energy. Maersk was founded in 1904 and is based in Copenhagen, Denmark.

DEAL STATS #
Overall 7 of 10
Sector (Transportation) 5 of 7
Type (Add-on Acquisition) 7 of 10
State (Pennsylvania) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 4
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-28 Li & Fung

Kowloon, China

Li & Fung is an integrated logistics company working to connect and simplify its customers’ supply chains. Li & Fung was formed in 1906 and is based in Kowloon, China.

Buy $3.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-02 Senator International

Hamburg, Germany

Senator International is a freight forwarding company that provides air and ocean freight, rail and transport solutions, and other logistics services. Senator International was formed in 1984 and is based in Hamburg, Germany.

Buy -

Seller(S) 2

SELLER

British Columbia Investment Management

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1999
PE ASSETS 21.9B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.

DEAL STATS #
Overall 2 of 3
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 2 of 2
Country (United States) 2 of 2
Year (2022) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Adams Outdoor

Lansing, Michigan, United States

Adams Outdoor is an outdoor and location-based advertising firm, whose goal is to form marketing partnerships with advertisers providing them with the best media strategies. Adams Outdoor was formed in 1983 and is headquartered in Lansing, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Refresco Gerber

Rotterdam, Netherlands

Refresco Gerber is a soft-drink company provides fruit juice and soft drinks for retail private labels and ‘in contract’ manufacturing for international A-brands. Refresco Gerber was founded in 1999 and is based in Rotterdam, Netherlands.

Sell -
SELLER

ATL Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2014
Size Middle-Market
Type Sector Focused
DESCRIPTION

ATL Partners is a private investment firm focused on private equity and debt investments in the aerospace, transportation, and logistics sectors. ATL's minimum investment size is $75 million, however the Firm has the ability to invest up to $750 million with its co-investment partners. ATL Partners was formed in 2014 and is based in New York City.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-19 GEOST

Tucson, Arizona, United States

Geost is a designer and integrator of small-to-medium-sized electro-optical/infrared sensors for high-value, national security space missions. Geost was founded in 2004 and is based in Tucson, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-03 Aero Accessories & Repair

Miramar, Florida, United States

Aero Accessories & Repair is a provider of aerospace component maintenance, repair, and overhaul (“MRO”) services. Aero Accessories & Repair was founded in 2007 and is based in Miramar, Florida.

Buy -
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