TPG completes acquisition of forwarder Wilson

TPG completes acquisition of forwarder Wilson    TPG N.V., the Dutch postal, express document and logistics service provider, has completed its takeover of the Swedish global freight forwarding company Wilson Logistics Group from Nordic Capital, following approval from the relevant competition authorities.
   The purchase price was SEK 2.35 billion ($320 million) on a debt free basis. TPG said it has financed the acquisition from cash reserves.
   “This acquisition is TPG's first major step into global freight forwarding and further strengthens its position as a leading logistics and express service provider,” TPG said. Wilson operates in 28 countries with more than 2,000 employees. It will add to the freight forwarding capabilities of TNT Express and TNT Logistics, two units of TPG.
   TPG's acquisition of Wilson follows the acquisition of various international forwarding and brokerage businesses by Deutsche Post, UPS and FedEx in the last few years, as major integrators sought to broaden the range of their international transport and logistics services.
   “By acquiring Wilson, TNT is able to offer its existing contract logistics clients the full array of supply chain management services, now including air freight, sea freight and combined sea/air freight,” TPG said.
   TPG employs about 160,000 people in 64 countries.