BDP International partners with Greenbriar Equity

Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.

BDP International partners with Greenbriar Equity

Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.

BDP International partners with Greenbriar Equity

Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.

 
   BDP International, a privately held global logistics and transportation services company based in Philadelphia, said Thursday it has selected Greenbriar Equity Group, a New York-based private equity firm with substantial experience in the international logistics space, as its first strategic equity partner.
    More capital will help with growth opportunities and new investments,” said
BDP, which operates in 148 owned offices in 34 countries across the globe and employs more than 5,000 logistics professionals.
   BDP is particularly well known for its work in the chemical industry, but is active in many other vertical markets, including healthcare and life sciences, oil and gas, manufacturing and retail and consumer goods.
    Details of the deal, including
how much Greenbriar is investing or what percentage of BDP it will own, “are confidential and will not be disclosed,” said BDP, adding, “Greenbriar made an unsolicited offer to BDP because of our high success rate, growth and desire to work with our leadership team.”
   Richard J. Bolte Jr., chairman and chief executive officer, “remains a significant investor in BDP,” it said, adding, “There are no changes to BDP’s management team.”
    Rye, N.Y.-based Greenbriar has invested in other transportation companies, including Seko Logistics, which it currently owns. Past investments it has exited from include Transplace, Genco Distribution System, Ardmore Shipholding and World Freight Company.
    In April 2012, BDP said it was seeking funds for expansion, but denied a report published by Reuters that it was looking to sell itself. In August of that year, BDP said it had decided not to seek an outside investor and would rely on bank financing for growth and remain owned and operated by the Bolte family.

   “We first sought out BDP 15 years ago and introduced ourselves because of its outstanding reputation as a customer-focused, global logistics provider with a highly talented team,” said Jill Raker, a managing partner at Greenbriar. “We’ve had the pleasure to get to know the business and team in depth over the last number of years and are thrilled for the opportunity to partner with them and to invest in BDP’s future growth.”
   Bolte said, “Greenbriar has a long-standing focus in the logistics sector and understands our business, strategy and culture. This partnership will enable our team to pursue new organic initiatives, acquisitions and investments that provide our esteemed customers with additional solutions to better manage their supply chains.”
   The consulting firm Armstrong and Associates ranked BDP International as the 27th largest 3PL in the U.S., estimating its revenue in 2017 at $1.3 billion.

One must wonder who the Trump administration is trying to punish with its growing enthusiasm for tariffs. The tariffs are offsetting much of the savings from tax cuts, and if this continues there could be tough months ahead.

Drewry’s World Container Index, a composite of container freight rates on eight major routes to and from the U.S., Europe and Asia, was down 1.4% to $1,351.15 per 40-foot container as of June 13.

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BDP International partners with Greenbriar Equity

Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.

Dec 07, 2018 on Dec 27, 2018AmericanShipper.com

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BDP International partners with Greenbriar Equity

Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.

Dec 07, 2018 on Dec 27, 2018AmericanShipper.com