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Aramex, a leading global provider of logistics and transportation solutions, has completed the acquisition of Access USA Shipping (MyUS), a global technology-driven platform, for an all-cash purchase price of approximately $265 million. The transaction marks Aramex’s largest acquisition to date, after obtaining all necessary regulatory approvals.
Following the acquisition, MyUS will be fully integrated into Aramex’s business, operating as a business unit within the company’s express business unit. MyUS will retain its brand name and will complement Shop & Ship, Aramex’s subscription-based last-mile e-commerce solutions platform.
The acquisition will further strengthen Aramex’s cross-border express business, including increasing freight volumes, expanding and diversifying its customer base, and expanding coverage in new origins and destinations. The deal is also expected to be immediately accretive to Aramex, delivering strong revenue growth, attractive profitability and excellent cash conversion.
Cost-effective package forwarding solutions
MyUS provides cost-effective package forwarding solutions. In 2021, the company generated more than $100 million in revenue and delivered 1.1 million packages to customers who shopped at retailers in the U.S., U.K. and China. The company has about 180,000 active customers.
Throughout its 25-year history, MyUS has mastered a customer-centric business model that serves the needs of global e-commerce shoppers in innovative ways, built on cutting-edge proprietary software, scalable technology and industry-leading expertise . It has 300 employees, most of them in the United States.
Othman Aljeda, CEO of Aramex, said: “With the successful completion of our largest strategic acquisition to date, Aramex has become an even more competitive player in cross-border e-commerce. Given how complementary MyUS’s business is to ours, We believe our wider range of stakeholders will realize the immediate and long-term positive benefits of this acquisition. Our shareholders will see an immediate impact on financial performance, and in the long run we can unlock more through operational and cost synergies Multi-value. Our customers will benefit from further enhanced network coverage and excellent service from the first mile to the last mile.
Cross-border service
“Our employees will benefit from knowledge sharing to further develop their expertise in cross-border express operations, including learning and adopting MyUS’ leading proprietary software. As we begin the integration process, I would like to extend a warm welcome to MyUS employees and customers and look forward to further development together.”
Ramesh Bulusu, CEO of MyUS, said: “We are well positioned to leverage Aramex’s extensive global network, scale, knowledge and expertise to bring our products and solutions to new markets that exhibit attractive characteristics, Such as Middle East and North Africa. UK and Australia. We will develop a joint business plan with Aramex to unlock revenue and operational synergies, help grow cross-border e-commerce businesses and provide customers with the best solutions and services. Ultimately, Under Aramex’s ownership, our goal is to accelerate our growth in the fragmented multi-trillion dollar global e-commerce market.”
Citigroup acted as financial advisor and Cravath, Swaine & Moore acted as legal advisor to Aramex during the transaction; UBS acted as financial advisor and King & Spalding acted as legal advisor on behalf of all sellers, including a mid-market private equity firm based in West Palm Beach, Florida Affiliate of Palm Beach Capital. arab trade news agency
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