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Deal for Chicago-based forwarder and compliance specialists at start of ‘transformative year’
SEKO Logistics is starting a ‘transformative year’ for its global supply chain solutions business in 2019 by making the first full acquisition of another independent freight forwarding specialist in its 42-year history with the purchase of GoodShip International Inc., the Chicago-headquartered customs brokerage and compliance consultancy.
The investment represents the latest phase of SEKO’s programme to accelerate its strategic vision by expanding its global footprint, establishing more strategic partnerships, and making strategic acquisitions in the forwarding and technology sectors.
Founded 24 years ago, GoodShip International provides customs brokerage, compliance, air and ocean freight solutions to a broad diversity of clients with emphasis on the Trans-Pacific Eastbound cargo movements, from some of the world’s most recognisable brands to technologically-savvy start-ups spanning industries including Aerospace, Automotive, Electronics, FMCG, Healthcare Products, Pharma and Retail.
The addition of GoodShip International will also build the capabilities of SEKO’s Chicago Gateway, which offers support to international shippers, by adding a new level of customs brokerage and compliance services. Further expansion of SEKO’s Midwest operations will be announced in Q2, 2019.
2018 was a strong year for SEKO but after 42 years of organic growth, the Company believes it is time to enhance its strategy to step up to the next level by working with the right types of strategic partners and undertaking acquisitions to enhance its technology, network and capabilities.
The transaction was initiated by Republic Partners, who also served as advisor to SEKO on the transaction.