Logistics News

Silk Logistics acquires Perth based port logistics specialist

Silk Logistics is looking to expand its WA presence through the acquisition of FFS

Silk Logistics Holdings Limited says it is pleased to announce it has entered into a binding agreement to acquire the Fremantle Freight & Storage Group (FFS) through the acquisition of head company Brightflow Enterprises.

The acquisition is subject to conditions precedent customary for a transaction of this nature together with final debt facility approval. 

Established in 2000, FFS operates across four sites in metropolitan Perth and provides wharf cartage, warehousing, quarantine, fumigation and other complementary port-related services.  The acquisition adds immediate scale to Silk’s WA footprint, consistent with Silk’s strategy to grow its ability to provide reliable Port Logistics solutions nationally. 

Further, the Acquisition is expected to unlock demand from Silk’s existing blue chip customer base as well as other potential cross-selling opportunities. 

FFS generates an annual revenue in excess of $29 million as well as strong positive earnings and operating cashflow. 

 “FFS is a strategically important acquisition and establishes Silk’s Port Logistics capabilities in Perth,” Silk Logistics CEO Brendan Boyd says. 


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“This will allow us to extend our elevated customer service offering nationally. FFS is an attractive opportunity, the businesses operating philosophy is highly aligned with Silk’s offering and will deliver operational efficiencies as well as further revenue growth.

“Silk also gains an exceptional team at FFS, who are the key to their success and will continue to drive significant value for FFS and the broader Silk business.”

The acquisition of FFS will be funded through cash reserves and debt facilities (subject to approval). 

The acquisition is expected to complete before September 1 2022, subject to customary closing conditions, including certain third-party consents.

The acquisition price consists of $23.6 million payable upfront with a further $7.8 million payable contingent on achieving agreed financial milestones for the period ending July 31 2023. 

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