English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Abraaj Group acquires Latin America courier

PRESS RELEASE

August 13, 2015: The Abraaj Group, a leading investor operating in global growth markets, today announced the acquisition, through one of its Funds, of a majority stake in URBANO Express , a  courier and light logistics solutions company in Latin America with operations in Peru, Ecuador and El Salvador.

Terms of the investment were not disclosed.

URBANO is the market leader for document delivery services in the three countries where it operates, with a unique last-mile distribution network that reaches approximately 85.0 percent of the population.

urbanoAbraaj first invested in the logistics sector in 2002 through its acquisition of Aramex in the Middle East, one of the most successful public-to-private transactions in the region. Abraaj subsequently invested in three other logistics businesses in Asia and Sub-Saharan Africa.

Abraaj has invested in the Pacific Alliance countries of Colombia, Mexico and Peru since 2008 across a range of sectors including retail, tourism, technology, food and beverage, and consumer goods.

URBANO was established in Ecuador in 1996, expanding to El Salvador in 1998 and Peru in 2003. From an initial focus on postal distribution and mass mailing, the Company has diversified its service offerings and is now organized into five business lines: Document Delivery, Parcel and Package, External Logistics, Printing and Document Management Services, and Business Intelligence Services.

URBANO's corporate clients include financial institutions, telecom operators, traditional retailers and e-commerce companies.

Commenting on the investment, Miguel Olea, Partner and Regional Head of Latin America at Abraaj, said, "We believe this is an opportune time to invest in the courier and light logistics sector in Latin America, which is enjoying high levels of growth as a result of strong consumer and corporate demand.

"Our investment in URBANO represents a partnership with a leading firm and an entrepreneurial management team who share our vision of growth for the business. Abraaj has a successful track record in the logistics sector in Asia, the Middle East and Africa and we look forward to bringing this expertise to bear in our investment in Latin America."

Andres Borrero, Chief Executive Officer of URBANO, added, "This is an exciting period of growth for URBANO, and we look forward to a successful partnership with Abraaj. With its track record of success in Latin America and its longstanding expertise in the global logistics sector, Abraaj is ideally placed to introduce new services and expand URBANO's product and service offering and geographic presence."

The courier and light logistics sector in Latin America is experiencing rising demand from increased banking penetration, growing demand for telecom services and expanding e- commerce, among other factors, making it a compelling area of investment. Abraaj and URBANO's management team will focus on enhancing the Company's existing light logistics offerings while entering into new and complementary business lines that can further augment growth, including call centers, customs clearing, shop and ship, and fleet management solutions.

 

More News

Written on 24/06/2017, 17:49
delta-and-korean-expand-partnershipATLANTA/SEOUL: June 23, 2017: Delta Air Lines and Korean Air are to create a trans-Pacific joint venture for passenger and cargo services. Subject to...
Written on 23/06/2017, 17:12
airlines-show-they-careSINGAPORE: June 22, 2017. Lufthansa Cargo, Swiss WorldCargo, United Cargo and Emirates SkyCargo have won DHL's 'Carrier Award for Reliability and...
Written on 23/06/2017, 15:27
a-good-week-for-qatar-airwaysDOHA: June 23, 2017. Notwithstanding a list of political demands on Qatar from some of its neighbors today, Qatar Airlines CEO Akbar Al Baker appears to...
Written on 22/06/2017, 21:24
project-cargo-gets-new-liftLE BOURGET: June 22, 2017. Lockheed Martin launched its latest commercial variant of the ubiquitous Super Hercules transport – the LM-100J – at the Paris...
Written on 20/06/2017, 21:31
us-500-million-for-hybrid-airshipsPARIS, June 20, 2017. Hybrid Air Freighters (HAF) has signed a Letter of Intent to purchase up to 12 Lockheed Martin Hybrid Airships for US$500 million...
Written on 20/06/2017, 19:03
ethiopian-adds-more-b777-freightersLE BOURGET, France: June 20, 2017. Ethiopian Airlines is adding to its fleet of six B777 freighters with the purchase of two more with a list price of...
Written on 19/06/2017, 13:44
freightweek-news-update-week-25BUCHAREST: June 22, 2017. Albalact – Romania's largest dairy company – has renewed its contract with Tibbett Logistics to provide delivery of dairy...
Written on 13/06/2017, 22:19
emirates-sky-cargo-begins-luxembourg-serviceDUBAI/ LUXEMBOURG: June 13, 2017. Emirates SkyCargo began its first weekly B777 freighter service to Luxembourg this week as part of its strategic...
Written on 13/06/2017, 21:31
cma-cgm-to-buy-maersk-s-mercosul-subsidiaryCOPENHAGEN/MARSEILLE: June 13, 2017. A.P. Møller – Mærsk has confirmed the sale of its Mercosul Line subsidiary to CMA CGM to avoid market dominance...
Written on 12/06/2017, 13:37
freightweek-news-update-week-24PORT ELIZABETH, NJ: June 15, 2017. The Ocean Alliance has begun its first weekly U.S. East Coast Loop 3 service with a call by the 8,700 TEU capacity CMA...
Written on 09/06/2017, 21:41
antonov-makes-last-minute-andean-liftMENDOZA, Argentina: June 07, 2017. Antonov used an AN124-100 in late May to move mining equipment weighing a total of 24 tonnes from Santiago, Chile to...
Written on 08/06/2017, 22:41
turkish-cargo-gets-the-word-out-and-the-business-inISTANBUL: June 08, 2017. Turkish Airlines has reported a gross profit of US$117 million on revenue of US$1.93 billion for Q1 2017 as the contribution...
Written on 08/06/2017, 20:37
customs-and-air-cargo-belgium-to-share-visionBRUSSELS: June 07, 2017. Belgian Customs and sector representative Air Cargo Belgium have agreed to "execute a common vision concerning the optimization...
Written on 08/06/2017, 19:40
schiphol-pharma-gateway-adds-abcAMSTERDAM: June 07, 2017. AirBridgeCargo Airlines (ABC) has become the second airline and 14th member of the Pharma Gateway Amsterdam (PGA) initiative...
Written on 07/06/2017, 15:47
ups-suspends-pick-ups-for-qatar-as-embargo-continuesATLANTA: June 06, 2017 UPS has informed its customers that direct import and export to and from Qatar is not be possible, following the decision by...
Written on 06/06/2017, 19:00
maskargo-boost-to-malaysia-ecommerceKULA LUMPUR: June 06, 2017. MASkargo has begun a five times weekly A330 freighter service between Kuala Lumpur International Airport (KIA), Kota Kinabalu...
Written on 06/06/2017, 15:51
delta-and-aeromexico-sign-transborder-agreementATLANTA/MEXICO CITY: June 06, 2017. Delta Cargo and Aeromexico Cargo have signed a sales, operations and marketing agreement to develop the transborder...
Written on 05/06/2017, 14:21
freightweek-news-june-05-09MARSEILLE: June 09, 2017. CMA CGM is to introduce a new box service linking the East Mediterranean, Djibouti, Gulf, Pakistan and India. Read...
Written on 31/05/2017, 21:02
big-jump-in-gross-profit-for-gefcoCOURBEVOIE, France: May 30, 2017. Gefco, the automotive logistics specialist owned by RZD Russian Railways, has reported a 1.3 percent increase in revenue...
Written on 31/05/2017, 15:32
bertschi-award-winning-tanks-head-westDURRENASCH, Switzerland: May 29, 2017. Liquid logistics specialist Bertschi has begun an 18-day movement of 82 ISO tank containers from Korla in Western...

- powered by Quickchilli.com -