Glen Cameron Group agrees 100% sale to global logistics group DHL
Henslow is pleased to have acted as lead M&A corporate advisor to the Glen Cameron Group, an iconic Australian logistics business, on their 100% sale to global logistics group DHL. The transaction provides DHL with the opportunity to leverage Cameron’s expertise in contract distribution and interstate transport within Australia.
The Glen Cameron Group was founded 47 years ago by Glen Cameron and has grown from one 8-tonne tray truck to a national business with over $350m of group revenue, a fleet of over 1,000 trucks and trailers and more than 820 employees and 500 sub-contractors.
The transaction will create the third pillar in Australian logistics with combined revenue of over $1bn, providing a fuller range of transport services to DHL customers and marking an important milestone for DHL to continue a legacy in the Australian transportation industry.
Henslow has had a long standing relationship with owners Glen Cameron, Denis Blaney and Greg Smith, which started with discussing succession planning for both the shareholders and the business. Following a strategic review, a review of growth opportunities and sourcing potential buyers, Henslow helped locate the right partner for the Glen Cameron Group.
We are very excited to see the business taking on new opportunities with DHL, which is part of Deutsche Post DHL Group and one of the world’s largest logistic companies with revenues of more than €80bn. The DHL Australian team share similar values to Camerons, being relationship focused by prioritising their customers and employees.
This Transaction (which is scheduled to complete in July) adds to Henslow’s track record in the logistic sector, creating strong connections and working closely with business owners and founder led businesses to secure a path to liquidity.
See attached public announcement