We are excited to announce that Unifeeder has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator. The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.
Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle East via the Indian Subcontinent. The Group generates annual revenue of close to $200m from a diversified customer mix, calls at 50 ports and transports over 600k TEU annually.
“The Feedertech Group has enjoyed great success over the years and we are proud of our achievements. We believe the transaction with Unifeeder, and the support of DP World, will allow us to take the business to the next stage of its growth. Both Feedertech and Unifeeder share similar business models and a desire to reduce inefficiencies, and by combining the expertise of the two entities, we believe we can deliver a high-quality product for our customers. Furthermore, being part of the DP World family will allow us to benefit from their deep relationship with end-customers and a wide global network. We look forward to a prosperous future together,’’ says Ali Maghami.
Through Feedertech and Perma, Unifeeder will now have the capability to offer feedering and regional shortsea connectivity in Europe, the Mediterranean, North Africa, Asia, the Middle East, and the Indian Subcontinent. Moreover, the expansion will increase Unifeeder’s logistics capabilities and facilitate integrated services that engage end-customers and traders in line with the strategic ambition of the company’s parent, the DP World Group. It also enables opportunities in the fast-growing coastal shortsea trade on the Indian Subcontinent, complementing the existing India logistics strategy of DP World.
‘‘This is yet another strategic step in our vision to build a global presence, offer a broader network of solutions to customers and leverage the way we engage with them to create the most comprehensive and integrated solutions across multiple geographies. We are excited to be joining forces with a company that operates on the same values as us. Feedertech’s asset-light business model and approach to preserve the common-user independent platform that focuses on flexibility, reliability and providing sustainable logistics solutions, made it a clear fit for Unifeeder,’’ says Jesper Kristensen, CEO of Unifeeder.
The deal is expected to close year end.
Feedertech Group includes two business units; Feedertech, a feedering service, and Perma, a regional shortsea network. The group caters to its customers’ needs by exercising the utmost flexibility to meet the dynamic demands of the market, and strongly emphasizing on quality over quantity by practicing service integrity and reliability. The Singapore-based company was founded in 2003 and had gradual expansion over the years, launching various innovative common carrier services. Today the group counts 290 employees in 23 countries and provides reliable links to 50 ports across Asia, the Middle East, Africa and the Indian Subcontinent.
DP World is the leading enabler of global trade and an integral part of the supply chain. The company operates multiple related businesses – from marine and inland terminals, marine services, logistics and ancillary services, to technology-driven trade solutions. DP World’s portfolio of more than 150 operations in over 50 countries across six continents gives them a significant presence both in high-growth and mature markets.
The Unifeeder Group is an integrated logistics company with the largest and best-connected feeder network and rapidly growing shortsea business in Europe, Northern Africa, and the Black Sea region with connectivity to well above 100 ports. As a key player in global and regional supply chains, Unifeeder plays a critical role as a facilitator of integrated supply chains, simplifying the complex tasks of choosing and managing supply chains by providing efficient and sustainable transport solutions.