BDP International says company is not for sale
April 10, 2012 - LM Editorial
While a Reuters report indicated that global third-party logistics (3PL) services provider BDP International was in talks to with private equity firms to make the company available to be sold, BDP stated that is not the case.
An April 5 Reuters report cited an unnamed source as saying BDP is being advised by boutique investment firm Republic Partners, and another source said the company could command roughly $500 million if it was sold.
Originally established as R.J. Bolte Company in 1966 as a freight forwarder, the company became incorporated as BDP International Inc. in 1972. BBP has a network of wholly-owned operations, joint ventures and affiliates in more than 120 countries, including more than 115 offices across the world, according to its corporate Web site. The company’s 2011 gross sales totaled approximately US$1.6 billion in 2011, according to company officials. BDP has about 3,300 employees.
BDP provides myriad logistics and transportation services for shippers across many industries, including chemicals, oil and gas, and healthcare, among others. These services are comprised of air, ocean, and ground transportation; freight forwarding; Customs clearance; and warehousing and distribution, among others.
“BDP is not for sale,” said Arnie Bornstein, BDP International executive director of corporate communications, in an e-mail interview. “Our ownership, the Bolte family, believes in the Company’s future, sees strong upside potential and is exploring opportunities with private investors, to raise capital that will enable BDP to have added flexibility to build on its technology, expand global presence and help our customers grow. “
Bornstein added that the infusion of capital through outside investment is a normal course of activity for privately owned companies.
And he also said that BDP is in the most favorable position in its 45-year history, out-performing its industry and financial markets over much of the past decade. BDP will continue to be owned and operated by the Bolte family and its incumbent management team, he said.
While Bornstein was firm in stating that BDP is not for sale, Evan Armstrong, president of Armstrong & Associates told LM that privately-held BDP is exploring its options.
“This may not mean a complete sale, but maybe a private equity investment,” said Armstrong. “It is a way for the Bolte family to take some built up equity out.”
About the Author
Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff joined the Supply Chain Group in 2005 and leads online and print news operations for these publications. In 2009, Jeff led Logistics Management to the Silver Medal of Folio’s Eddie Awards in the Best B2B Transportation/Travel Website category. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. If you want to contact Jeff with a news tip or idea, please send an e-mail to .(JavaScript must be enabled to view this email address).
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