Access USA Shipping, LLC (“MyUS”) announces the completion of its acquisition by Aramex PJSC (“Aramex”) (DFM: ARMX), a Dubai-listed courier firm, for an all-cash purchase price of approximately $265 million.
MyUS will fully integrate into Aramex, operating within the company’s courier business segment. MyUS will retain its brand name and will be complementary to Aramex’s subscription-based last-mile e-commerce solutions platform.
This acquisition will strengthen Aramex’s cross-border express business by increasing shipment volumes, growing and diversifying its customer base, and expanding coverage in new origins and destinations. In addition, MyUS and Aramex customers will reap the rewards of this acquisition due to each company’s complementary expertise in comprehensive logistics and transportation solutions.
Aramex is a leading global provider of comprehensive logistics and transportation solutions headquartered in the United Arab Emirates. The company is known for various services, including express courier delivery, freight forwarding, logistics, supply chain management, e-commerce, and record management services. Since its establishment in 1982, Aramex has successfully introduced market-leading and express delivery and logistic services to the Middle East and other emerging economies.
Moving together under one ownership, MyUS and Aramex are focused on creating business initiatives supporting greater trade in and between emerging markets. This acquisition will move the company forward in creating a culture where innovation and investment in people, technology, infrastructure, and customer satisfaction can thrive. In addition, the transaction is expected to be immediately value accretive for Aramex, providing substantial growth revenues, attractive profitability, and superior cash conversion that will benefit stakeholders and partnerships with local communities.
Ramesh Bulusu, Chief Executive Officer of MyUS, said: “We at MyUS are excited to begin a new chapter of growth with Aramex. We are ready to take our products and solutions to new markets by leveraging Aramex’s extensive global network, scale, knowledge, and expertise in markets exhibiting very attractive characteristics, such as the MENA region, the UK, and Australia. Together with Aramex, we will work on developing a joint business plan to unlock revenue and operational cost synergies to help grow the cross-border e-Commerce business and bring customers the best solutions and services. Ultimately, our goal under Aramex’s ownership is to accelerate our growth in a fragmented multi-trillion dollar e-Commerce market.”
Othman Aljeda, Chief Executive Officer of Aramex, said: “With the successful close of our largest strategic acquisition to date, Aramex has become an even more competitive player in the cross-border e-Commerce space. Given how complementary MyUS’s business is to ours, we believe our wider given stakeholder universe will realize the immediate and long-term positive benefits of this acquisition. Our shareholders will immediately see the impact on financial performance, and over the long term, we can unlock further value through operational and cost synergies. Our customers are set to benefit from further enhanced network coverage and service excellence from first to last mile. Our employees will benefit from knowledge sharing, further developing their expertise in the cross-border express business, including learning and adopting MyUS’s leading proprietary software. As we start the integration process, I would like to extend a warm welcome to MyUS’s employees and customers and look forward to growing further, together.”