Baring Asia Acquires Logen Co., Ltd
Leveraged buyout of South Korean domestic parcel delivery firm
Baring Private Equity Asia (“Baring Asia’) announced today that funds advised by Baring Asia have acquired Logen Co., Ltd (“Logen”), one of the leading domestic parcel delivery companies focused on small and mid‐volume customers in South Korea.
Logen is the market leader in the niche segment of the parcel delivery market that focuses on small to mid‐volume customers. Over the past 14 years Logen has built an extensive nationwide network of 7 terminals, 2 sub‐terminals, 215 agencies and 4,353 truck drivers, handling over 100 million parcels in 2012.
Dar Chen, Managing Director at Baring Asia, said, “South Korea has the highest online retail and high‐speed broadband penetration rate in the world. We expect the parcel delivery industry to continue to be the beneficiary of these favorable macro trends.”
Han Chul Kim, Principal at Baring Asia, said, “Logen has created an impressive nationwide infrastructure and scale that provide a strong platform for further growth. We look forward to working with the management team to continue the firm’s impressive development.”
About Baring Asia
Baring Asia is one of the largest and most established independent private equity firms in Asia and advises funds that manage more than $5 billion in committed capital. The firm runs a pan‐Asian investment program, specializing in mid‐cap buyouts and providing growth capital to companies for expansion or acquisitions. The firm has been investing in Asia since its formation in 1997 and has approximately 100 employees located across seven offices in Hong Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta and Tokyo. Baring Asia currently has over 30 portfolio companies across Asia.
Richard Barton, Newgate Communications