Kuehne+Nagel (K+N) executives have declined to comment on reports that the company is weighing up options for its Apex Logistics business.
Speaking during yesterday’s second-quarter results investor call, K+N chief financial officer Markus Blanka-Graff said he had seen the reports but added that “there is nothing that we could comment or confirm or make any statements around that other than Apex is a part of Kuehne+Nagel organisation and a very highly valued growth machine for us”.
He added that Apex Logistics was a “strategic investment” and a “massive growth opportunity”.
Chief executive Stefan Paul added that K+N utilised Apex’s expertise in terms of charter operations out of Hong Kong and that the company was an enabler of significant growth, in particular for the technology sector.
Earlier this week, newswire Bloomberg carried a report suggesting that K+N has been discussing with advisors the potential sale of a 20% stake in Apex Logistics or listing the company on the Hong Kong stock exchange.
It has reached out to sovereign wealth funds and infrastructure funds, but a final decision has yet to be reached, people familiar with the matter told Bloomberg.
K+N purchased the remaining 24.9% of Apex Logistics last year from the Partners Group in a deal that valued the Singapore-headquartered firm at an enterprise value of more than $4bn.
At the time of the deal, Apex had 48 sites worldwide that served over 20,000 customers in more than 70 countries.
Apex serves customers across a range of industries including semiconductors, electric vehicles, consumer electronics, retail & fashion, perishables, and chemicals.
It moved more than 420,000 tons of airfreight in 2024, representing around 20% of K+N’s total airfreight volumes.
The company is particularly active on the transpacific trade lane, which has this year been growing rapidly due to rising demand for the transport of semiconductor, AI and data centre-related shipments.
In May, IATA figures show that volumes from Asia to North America, which is the world’s largest trade lane, increased by 23.5% year on year.
Apex operates more than 4,000 charter flights annually and has an ongoing partnership with Atlas Air Worldwide.
K+N initially invested in Apex Logistics in 2021.
