AC Logistics Holdings Corp., a wholly owned subsidiary of Ayala Corporation, is acquiring a controlling 60 percent stake in the Air 21 Group from Alberto D. Lina for an undisclosed sum.
In a statement, AC Logistics said it has signed an Investment Agreement with Lina, Air 21 Holdings Inc. (AHI), Airfreight 2100, Incorporated (AIR21), Air 2100, Inc. (AIR21 Subic), U-Freight Phils., Inc. (U-Freight), U-Ocean, Inc. (U-Ocean), Cargohaus, Inc. (CHI), LGC Logistics, Inc. (LGC), Waste & Resources Management, Inc. (WARM), and Integrated Waste Management, Inc. (IWMI) for the acquisition.
AHI is a holding company owned by Lina which will have controlling interests in eight operating companies under the AIR21 Group that are engaged in a broad range of logistics services that include express door-to-door service, international and domestic freight forwarding, warehousing and waste logistics management.
“The partnership with AHI gives AC Logistics an end-to-end logistics platform that is capable of serving the diverse supply chain requirements of high-growth industries and complements Ayala’s initial foray in logistics through Entrego. We are delighted to have this opportunity to work with the Lina family,” said Ayala Corporation President and CEO Fernando Zobel de Ayala.
AHI Founder and Chairman Lina said welcomes the partnership with AC Logistics, noting that, “Ayala’s businesses have proven leadership in their respective industries.” He added that, “The management expertise from the Ayala group combined with our extensive experience in logistics will be transformative not just for our group but for the industry as well.” This investment allows AC Logistics to participate and service the needs of growing and evolving industries and ecosystems.
The company’s goal is to offer a full range of logistics services to more clients and to provide competitive services by leveraging on the strengths of companies in its portfolio.
The pandemic disrupted the supply chain and underscored the need for a more robust and integrated logistics network across the country.
Warehousing facilities suited to the needs of critical industries coupled with investment in technologies that drive operational efficiencies are critical to deliver better services across the supply chain and to spur faster economic recovery.
“The decision to enter the logistics sector was a deliberate move on our part. We have been looking at the ecosystem in the past, carefully studying the opportunities where we can invest and make a difference,” said AC Logistics President Rene D. Almendras.
He added that, “The supply chain disruptions and lockdowns we faced in 2020 strengthened our conviction in investing in the logistics sector, which we started back in 2017. More than ever, logistics is a critical component of trade, particularly as we recover from the effects of the pandemic.” “We are very excited to improve and redefine practices with the use of new technology and with the needs of Filipinos at the core of our aspirations,” said Almendras.
AC Logistics aspires to become a world class logistics player in the country with digitally empowered end-to-end logistics capability similar to what is now available in other countries.
BPI Capital Corp. and Fortman Cline Capital Markets Ltd. acted as financial advisors for AC Logistics and AIR21 Group, respectively.