CHAMP PE buys New Zealand freight businesses

The GP will pay an undisclosed amount for Strait Shipping, Freight Lines, and freight forwarding business Streamline, all founded by New Zealand transport industry pioneer Jim Barker, who began the sale process and remained closely involved up to his death earlier this year. Also included in the transaction is the Bluebridge ferry service, a subsidiary of Strait Shipping which operates two ferries in the Cook Strait.

Closing is expected in the first quarter of 2017, subject to regulatory approval. The GP plans for the three companies to continue operating as normal during the upcoming summer travel and transport season. "We're committed to building on the strong foundations the Barker family has created and growing these businesses for the benefit of not only investors but also the wider New Zealand freight and passenger transport markets," said CHAMP Managing Director Cameron Buchanan.

CHAMP's core focus is on the Australia and New Zealand markets. The firm typically invests in businesses with enterprise valuations of A$150-750 million ($115-573 million) across a range of sectors. Previous logistics investments include Containerchain, an Australia-based software-as-a-service provider to the container logistics industry in which it acquired a 50% stake this September.

The GP is currently investing from its fourth buyout fund, which launched in 2015 with a target of about A$1 billion and reached a first close of A$500 million earlier this year.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Australasia
• Support services
• Buyouts
• New Zealand
• CHAMP Private Equity
• Logistics