Toronto-based Livingston International Inc., a specialist in customs brokerage and trade compliance, has agreed to purchase for an undisclosed sum the assets of Advantex Express Inc. and related U.S. entities. Advantex is a transportation services and customs brokerage company with headquarters in Mississauga, Ontario. Livingston was taken private for $324 million by Canada Pension Plan Investment Board and U.S. private equity firm Sterling Partners in 2010.
Livingston International agrees to acquire transportation and customs brokerage firm Advantex Express
TORONTO, July 25, 2013 /CNW/ – Livingston International has signed a purchase agreement to acquire the assets of Advantex Express Inc. as well as the shares of its two U.S. entities, Advantex Express, Inc. and Andina Group International, Inc. (collectively “Advantex”), Livingston’s president and CEO, Peter Luit, announced today.
Advantex is a transportation services and customs brokerage firm headquartered in Mississauga, Ontario, with staff in Canada and the United States. If completed, the acquisition would bolster Livingston’s Canadian and U.S. international freight forwarding and customs brokerage operations. It would also give Livingston additional ground freight audit capabilities. This transaction fits into Livingston’s business strategy to strengthen its leadership position in Canada and expand its operating platform in the United States.
The parties involved in this purchase agreement are in the process of finalizing certain legal formalities and other details. Assuming that these conditions can be met in the weeks ahead, Luit and Advantex president, Greg Richard, anticipate that the transaction could close by mid-August 2013.
North America’s number one company focused on customs brokerage and trade compliance, Livingston International also offers international trade consulting and global trade management services as well as international freight forwarding across North America and around the globe. Headquartered in Toronto, Ontario, Livingston employs approximately 3,200 staff at over 125 key border points, sea ports, airports and other strategic locations across North America as well as in Europe and Asia.
SOURCE Livingston International Inc.
For further information:
1-800-387-7582 ext. 3109
Advantex Express Inc.
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