Partners Group agrees to exit minority stake in global logistics provider Apex Logistics

• The transaction values Apex Logistics at an EV of over USD 4 billion
• The stake sale marks a full exit for Partners Group from its original investment and a strong return for the firm's clients
• Benefiting from thematic tailwinds, Apex Logistics has seen strong growth over the last five years with EBITDA increasing 151%

Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, has agreed to sell its 24.9% stake in Apex Logistics ("Apex" or "the Company"), an integrated global logistics solutions provider, to majority shareholder Kuehne+Nagel, one of the world's leading logistics companies. The transaction values Apex at an enterprise value of over USD 4 billion. Partners Group's stake sale, which is scheduled to close in 2025, marks a full exit from its investment in 2021 and a strong return for the firm's clients.

Founded in 2001 and headquartered in Singapore, Apex offers logistics solutions centered on air and sea freight transportation, with warehousing and distribution as auxiliary services. Kuehne+Nagel and Partners Group have worked together on a shared ambition to transform Apex into a global logistics platform, driving strategy and value creation from board level in partnership with management. Key initiatives included enhancing technology and capabilities to serve global blue-chip clients, increasing charter-flight capacity to enable greater agility and customer responsiveness, and investing in operations. This has helped drive strong growth at Apex, with EBITDA increasing 151% over the last five years.

Today, Apex has 48 sites worldwide that serve 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. Apex moved 420,000 tons of airfreight and 300,000 TEU of ocean freight in 2024.

Tony Song, Chief Executive Officer, Apex Logistics, says: "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."

Dr. Marcel Erni, Co-Founder, Member of the Board of Directors, Partners Group, says: "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."

Sheng Liu, Managing Director, Private Equity, Partners Group, and its representative on the board of directors of Apex Logistics, says: "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." 

Partners Group's Private Equity business has USD 83 billion in AuM globally. The firm was advised by Clifford Chance, Fangda, and KPMG on the transaction.