Kane Logistics is pleased to announce that its ownership group, Harkness Capital Partners has entered into a purchase and sale agreement to sell our great company to a very prestigious, global logistics company, named ID Logistics.
ID Logistics is headquartered in Orgon, France and is heavily engaged in the logistics industry. The company offers its customers a range of services for their supply chains, such as warehousing and distribution, temperature-controlled logistics, transportation, and e-commerce. ID Logistics’ geographic reach spans more 7 million sq meters of distribution space (~ 75 million sq ft), with 350 sites across 17 countries with roughly 25,000 employees. ID Logistics’ revenue base is currently $2.2 billion US dollars.
Pending anti-trust approval, a mid-April close date is anticipated. No changes are expected between now and closing.
Once the transaction is complete, KANE will become part of ID Logistics, US.
The entire KANE team has been extremely successful the last three years and changes in operations are not planned. The KANE management team has been asked to stay in place after the transaction closes, and Stan Schrader, our Chief Commercial Officer, will be elevated to CEO of ID Logistics, US, reporting to Christophe Satin, Chief Operating Officer, Director and Investor in ID Logistics.
ABOUT ID LOGISTICS
ID Logistics managed by Eric Hémar is an international contract logistics group, with revenue of €1,911 million in 2021. ID Logistics manages 350 sites across 17 countries, representing nearly 7.0 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 25,000 employees. With a client portfolio balanced between retail, industry, detail picking, healthcare and e-commerce sectors, ID Logistics is characterized by offers involving a high level of technology. Developing a social and environmental approach through a number of original projects since its creation in 2001, the Group is today resolutely committed to an ambitious CSR policy. ID Logistics is listed on Compartment A of Euronext’s regulated market in Paris (ISIN Code: FR0010929125, Ticker: IDL).
For more information on ID Logistics, visit http://www.id-logistics.com.
ABOUT HARKNESS CAPITAL
Harkness Capital is a U.S. based private equity investment firm focused on investments in service-oriented companies. Harkness Capital is dedicated to ‘transformational’ investing and building long-term value in its portfolio companies. Harkness works in partnership with talented business owners and managers seeking to grow their companies by investing capital and committing operating resources to support rapidly growing companies across a variety of segments within business and outsourced services. Harkness Capital looks for companies with EBITDA between $5-25 million in areas including logistics/distribution, environment/health/safety (EH&S), specialty rental / infra-structure, and test / inspection / certification / compliance (TICC). The Harkness Capital team of investment professionals and operating executives have diverse backgrounds as business founders, builders and leaders in services businesses.
For more information, please visit https://www.harknesscapital.com
ABOUT KANE LOGISTICS
Since 1930, Kane Logistics’ employees deliver exceptional logistics.
As a leader in the contract logistics industry, Kane Logistics helps consumer goods manufacturers and their retail partners efficiently distribute products throughout the United States. KANE’s omnichannel logistics solutions provide value and expertise in execution coupled with the transparency of tier one technology. Kane Logistics’ service offerings include warehousing and distribution, transportation capabilities, contract packaging, and cross docking.
Kane brings a long-standing expertise and exceptional customer service approach to the outsourcing logistics cases which are embodied in the KANE Code, which reflects the heritage of uncompromising excellence and personal attention to operational teams.
For more information, visit www.kanelogistics.com .