FMH Group Announces Acquisition of Border Express and Intended Merger with CouriersPlease to Propel Growth
Melbourne, 01 November 2023 – Freight Management Holdings Pty Ltd (“FMH”), a subsidiary of Singapore Post Limited (“SingPost” and “Group”), has entered into a conditional sale and purchase agreement with the shareholders of Border Express, the 6th largest national transport and distribution services company in Australia.
Border Express has presence across every state and territory in Australia with comprehensive freight connectivity, warehouses and regional centres, providing end-to-end interstate logistics services. With a network of 16 facilities, a fleet of over 700 vehicles, and a dedicated team of 1,300 employees, Border Express has established itself as a reliable partner to over 3,000 clients from across industries, including large retail and consumer brands.
Upon completion, Border Express will join the transportation companies held under the FMH Group umbrella, GKR Transport, Niche Logistics, BagTrans, Formby Logistics and Spectrum Transport.
Over the past three years, SingPost has expanded its operations in Australia with the FMH Group and CouriersPlease. This transaction aligns with SingPost’s strategic ambition to expand its logistics network and foster synergy within its Australian operations to deliver enhanced value to its customers and partners. In addition to this transaction, SingPost has reached agreement with the remaining minority shareholders of FMH to take its ownership to 100%.
The Australian integrated logistics market is estimated at over A$120 billion1. With the acquisition of Border Express, the revenues of the enlarged FMH Group are expected to exceed S$1 billion.
Vincent Phang, Group Chief Executive Officer, SingPost Group, said, “FMH Group has built a sustainable integrated logistics business in Australia. This acquisition is immediately accretive to earnings, solidifies FMH as a leading logistics provider, and continues the growth and development of our Australian operations. We look forward to welcoming Border Express to the FMH Group and SingPost Group family.”
Said Simon Slagter, Group Chief Executive Officer, FMH Group, “Border Express is a highly-regarded transportation provider throughout Australia. Upon completion, the acquisition will support FMH Group to realise the vision of a new logistics ecosystem where people and physical assets are connected through a ubiquitous technology platform, enabling true supply chain efficiency.”
Border Express Executive Director Transformation, Mark Luff, said: “We are excited to embark on this new chapter as we enter into a conditional agreement with FMH Group. Joining forces with FMH Group will provide us with access to an extensive network, cutting-edge technology and resources that will enable us to serve our customers even better and expand our reach even further.”
The transaction is subject to relevant statutory approvals and other closing conditions.
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About FMH Group
FMH Group is a diversified logistics holding company with divisions across 4PL and Warehousing, Transportation, and Technology. Its vision is to create a new logistics ecosystem, where people and physical assets are connected through a ubiquitous technology platform, enabling true supply chain efficiency. FMH Group is 88% owned by Singapore Post. www.fmhgroup.com.au
About Singapore Post Limited (SingPost)
Singapore Post (SingPost) is a leading postal and eCommerce logistics provider in Asia Pacific. The portfolio of businesses spans from national and international postal services to warehousing and fulfilment, international freight forwarding and last mile delivery, serving customers in more than 220 global destinations. Headquartered in Singapore, SingPost has over 4,900 employees, with offices in 13 markets worldwide. Since its inception in 1858, the Group has evolved and innovated to bring about best-in-class integrated logistics solutions and services, making every delivery count for people and planet. www.singpost.com
About Border Express
Border Express is a national transport and distribution services company with a strong capital city and regional network. Its vision is to be recognised by our customers as the industry leader in service, delivery and value. To achieve this it leverages off its greatest assets – people, process, innovation and technology, in an environment that’s focused on safety and sustainability. Find out more at www.borderexpress.com.au
For media enquiries:
Julia Loughlin Founder and Principal Consultant Echomakers, on behalf of FMH Group m: +61 422 281 915 | Sophia Ong Group Communications and Marketing SingPost m: +65 9839 1855 |
For media enquiries:
Julia Loughlin Founder and Principal Consultant Echomakers, on behalf of FMH Group m: +61 422 281 915 | Sophia Ong Group Communications and Marketing SingPost m: +65 9839 1855 |
Melbourne, 01 March 2024 – Freight Management Holdings Pty Ltd (FMH Group), a subsidiary of Singapore Post Limited (SingPost Group), has acquired Border Express following the completion of the conditional sale and purchase agreement on 1st March 2024. FMH Group has also announced its intention to merge with sister company, CouriersPlease.
The moves will increase FMH Group’s revenue to over an estimated AUD1.3 billion, and underscore FMH Group’s strategy of leveraging collaboration and integration to drive economies of scale, optimise operations and enhance the customer experience. This positions the company for continued growth and increased competitiveness in the market.
Simon Slagter, Group Chief Executive Officer, FMH Group, said: “With the completion of the acquisition of Border Express and the planned merger with CouriersPlease, we are on a trajectory of significant growth, making the FMH Group a top 5 largest logistics company by revenue in Australia. These decisions will not only expand our network but importantly, they will facilitate innovation and operational excellence. By combining our assets, scale and technology, we will be able to significantly improve efficiency and deliver value.”
Border Express Executive Director, Transformation, Mark Luff, said: “As we embark on this new chapter, we are very positive about the opportunities it presents for our team and our customers. Joining FMH Group is a strategic alignment that builds upon our success to date and will enable us to achieve the next phase of growth. We look forward to combining forces and leveraging synergies to deliver enhanced value to our customers.”
CouriersPlease CEO Richard Thame said: “CouriersPlease merging with the FMH Group signifies a practical step toward operational efficiency. Joining forces will allow us to pool talent and operational capability to deliver even greater value to customers and achieve shared success. We look forward to leveraging our individual strengths and enhancing our collective impact.”
Border Express and CouriersPlease will retain their own brand identities and employees under FMH Group, ensuring continuity for their valued team and customers.
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About Singapore Post Limited (SingPost)
Singapore Post (SingPost) is a leading postal and eCommerce logistics provider in Asia Pacific. The portfolio of businesses spans from national and international postal services to warehousing and fulfilment, international freight forwarding and last mile delivery, serving customers in more than 220 global destinations. Headquartered in Singapore, SingPost has over 4,900 employees, with offices in 13 markets worldwide. Since its inception in 1858, the Group has evolved and innovated to bring about best-in-class integrated logistics solutions and services, making every delivery count for people and planet. www.singpost.com
About FMH Group
FMH Group is a diversified logistics holding company with divisions across 4PL and Warehousing, Transportation, and Technology. Its vision is to create a new logistics ecosystem, where people and physical assets are connected through a ubiquitous technology platform, enabling true supply chain efficiency. FMH Group comprises 4PL, efm Logistics, technology company, Flip, Border Express, and Logistics Holdings Australia, under which is GKR Transport, Niche Logistics, Formby Logistics and Spectrum Transport. FMH Group is owned by Singapore Post. www.fmhgroup.com.au
About Border Express
Border Express is a national transport and distribution services company with a strong capital city and regional network. It has a network of 18 facilities, a fleet of more than 700 vehicles and a dedicated team of 1,700 employees and contractors, Border Express has established itself as a reliable partner to over 1,800 customers from across industries, including large retail and consumer brands. Find out more at www.borderexpress.com.au
About CouriersPlease
CouriersPlease is a leading franchised e-commerce and parcel delivery expert with a 40-year history of success, delivering more than 30 million parcels in 2022. We offer competitive prices, tailored and flexible delivery services, through 800-plus agile Franchise Partners who strive to exceed our customers’ expectations. With depots in all major Australian centres, CouriersPlease leverages its wide network delivery partners to enable coverage across the Australian landscape.
For media enquiries:
Julia Loughlin
Founder and Principal Consultant
Echomakers, on behalf of FMH Group
julia@echomakers.com.au
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