Partners Group, one of the world’s largest private markets investment firms, announced that it has agreed to sell its 24.9% stake in Apex Logistics to majority shareholder Kuehne+Nagel, one of the leading global logistics companies. The deal values Apex at more than $4 billion in enterprise value. It represents a complete exit for Partners Group on behalf of its clients, generating a strong return since its initial investment in 2021. The deal is expected to close in 2025, pending customary approvals.
Apex Logistics, founded in 2001 and headquartered in Singapore, has grown into a major integrated logistics solutions provider offering air and sea freight, warehousing, and distribution services. Over the past five years, Apex’s EBITDA has increased by 151%, driven by strategic initiatives undertaken jointly by Partners Group and Kuehne+Nagel. These initiatives included expanding global freight operations, investing in technology, and increasing charter-flight capacity to improve responsiveness to client demand.
Under Partners Group’s ownership, Apex evolved from a China-based logistics company into a truly global platform serving over 20,000 customers across more than 70 countries. The company operates 48 sites worldwide and handles significant freight volumes, including 420,000 tons of air freight and 300,000 twenty-foot equivalent units (TEUs) of ocean freight in 2024. Apex’s clients span diverse sectors, including semiconductors, electric vehicles, consumer electronics, retail, perishables, and chemicals.
The sale marks another successful example of Partners Group’s hands-on approach to value creation and collaboration with strategic partners. Working closely with Kuehne+Nagel, the firm played a central role in driving Apex’s international expansion and operational transformation, reinforcing its position as a global logistics leader capable of serving blue-chip customers with comprehensive supply chain solutions.
Clifford Chance, Fangda Partners, and KPMG on the transaction advised Partners Group. And its private equity business currently manages $83 billion in assets globally.
KEY QUOTES:
“With support from Partners Group, we have transformed from a China-based logistics firm to a global freight forwarder with comprehensive one-stop supply chain solutions. We have navigated multiple headwinds and global shocks in recent years to emerge as a stronger, more dynamic, and better integrated business. We thank Partners Group for their partnership and look forward to continuing our journey with Kuehne+Nagel.”
Tony Song, Chief Executive Officer, Apex Logistics
“The transformation at Apex that we achieved together with our outstanding strategic partner Kuehne+Nagel is a great example of entrepreneurial governance in action. From board level, our combined expertise across logistics operations and private equity investing acted as the foundation for driving strong bottom line growth at the Company.”
Dr. Marcel Erni, Co-Founder and Member of the Board of Directors, Partners Group
“Despite the uncertainties in global trade, we sourced this great company and executed a value creation plan centered around expanding operations internationally, increasing exposure to fast-growing freight sectors and regions, and growing accounts with global businesses. Apex is now well-positioned to continue its growth as an independent and entrepreneurial company under the global Kuehne+Nagel platform. We wish Tony and the management team all the best for the future.”
Sheng Liu, Managing Director, Private Equity, Partners Group
