Descartes purchases two Long Beach logistics firms
Canadian logistics services provider Descartes Systems Group said Tuesday it has purchased the assets of privately held Long Beach-based companies Ocean Tariff Bureau Inc. and Blue Pacific Services Inc., in an all cash transaction.
Ocean Tariff Bureau has been a reseller of Descartes’ Ocean Compliance service for the past 15 years. The Ocean Compliance service helps non-vessel-operating common carriers comply with U.S. Federal Maritime Commission regulations that require NVOs to file and make publicly available in the form of a “tariff” their rates for transporting cargo into or out of U.S. waters. Ocean Tariff Bureau also works with domestic and international NVOs to help them with the FMC licensing requirements for becoming an U.S.-authorized ocean transportation intermediary.
Blue Pacific works with NVOs to acquire financial bonds and sureties required by the FMC to participate in ocean and other modes of shipment into and out of the United States. In addition, Blue Pacific helps NVOs, freight forwarders and carriers secure financial sureties required by U.S. Customs & Border Protection before the NVO can begin sending electronic manifest information to CBP’s mandatory automated manifest system for ocean shipments.
Ocean Tariff Bureau and Blue Pacific are led by Capt. Alex Yang and Chuck Yang, each of whom will be remain on with Descartes.
Descartes paid $1 million at closing for the assets, with up to an additional $850,000 payable over the next two-and-a-half years, dependent on the financial performance of the acquired assets. The assets acquired include accounts receivable, customer contracts, technology, intangibles and goodwill.
Descartes purchases two Long Beach logistics firms
