Apex International’s Acquisition by Kuehne+Nagel
Beijing and Shanghai – Paul Hastings LLP, a leading global law firm, announced today that the firm represented the founders of Apex International Corporation ("Apex") in the acquisition of Apex by Kuehne+Nagel International AG (“Kuehne+Nagel”), the leading global transport and logistics company with shares listed on the SIX Swiss Exchange.
Apex, with global headquarters in Hong Kong and Asia headquarters in Shanghai, is a leading freight forwarder with 1,600 employees, and generates yearly turnover in excess of US$2.34 billion. In 2020, the company handled total air freight volume of approximately 750,000 tons and sea freight volume of 190,000 TEU.
The acquisition is the largest in the 130-year history of Kuehne+Nagel, which in addition to shares from the founders, also acquired the controlling stake in Apex from MBK Partners. Following the closing of the transaction, the founders will retain a minority stake in Apex, and the current management team will continue to lead Apex. Paul Hastings also represented the founders in their 2017 sale of the controlling equity stake in Apex to MBK Partners.
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