New investment to fuel Transtar growth


Founder and CEO welcomes investment from Indian logistics company, saying it is a win-win deal for all stakeholders

New investment to fuel Transtar growth
Transtar CEO Hank Meyer says it's 'business as usual' at the international freight forwarder

 

Transtar International Freight managing director Hank Meyer has confirmed a new investment partnership with India’s TCS Logistics Services, but says it is "business as usual" for the Melbourne-based company.

"We are delighted to partner with TVS-Asianics [TCS’s Singapore-based joint venture with Goldman Sachs and KKR and Company]," he says. 

"The partnership will be transformational for the Transtar Group and will significantly expand the scope of our end-to-end logistics services."

Meyer says TVS-Asianics’ purchase of a 51 per cent equity share in Transtar would have no impact on its customers, employees, or suppliers in Australia or Asia.

"It’s business as usual – the investment enables Transtar to accelerate its growth, coverage, and service capability."

The company will continue to be headquartered in Melbourne, and Meyer will continue in his role as group managing director.

He says he and the senior management team will retain a "significant" shareholding in the Transtar Group.

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