SingPost buys US e-commerce player from PE backer

SingPost will acquire 96.3% of TradeGlobal through its subsidiary TG Acquisition. This is the company's second recent transaction in the e-commerce space, after it agreed last week to buy 71.1% of online commerce logistics firm Jagged Peak for $15.8 million.

The deal comes as SingPost, whose shareholders include Alibaba Group, is seeking to expand its e-commerce services outside of Southeast Asia, to compensate for declining postal revenues. When the acquisition is finalized, SingPost's clients will be able to market their goods via TradeGlobal's platform, and vice versa.

"Together with TradeGlobal, SingPost can establish stronger market leadership and have a larger talent pool to drive a global e-commerce strategy," said SingPost Chairman Lim Ho Kee in a statement. "We will also be looking at a larger and deeper footprint. Increasingly, we need to take a ‘one world' approach towards e-commerce."

Bregal Sagemount bought TradeGlobal in 2013. The GP invests in market-leading technology companies across a range of sectors, including software, digital infrastructure, business and consumer services, and financial services and specialty finance.

The New York-based firm has $650 million in committed capital and typically invests $15-$150 million per transaction.

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• Topics
• Southeast Asia
• North America
• Consumer
• Technology
• Exits
• Investments
• Singapore
• USA
• Consumer
• TMT
• Exit
• Trade sale