The Carlyle Group invests $120m in Shanghai ANE Logistics
The Carlyle Group has agreed to invest US$120 million into Shanghai ANE Logistics Limited. Founded in 2010 and headquartered in Shanghai, ANE is the largest and fastest growing Less Than Truckload (LTL) operator with a franchise model in China. It provides road transportation and delivery services for cargos between 15 kilograms and three tons.
Eric Zhang, Managing Director of the Carlyle Asia buyout team, said: “China’s economic restructuring and e-commerce development bring about significant growth and consolidation opportunities in the country’s LTL logistics industry. ANE is well positioned to unleash the growth momentum with its attractive franchise model and strong management team.”
Wang Yongjun, Chairman of ANE Logistics, commented: “We value Carlyle’s experiences in the franchise model and its strong presence and proven track record in China. Through this partnership with Carlyle, we expect to enhance our infrastructure, expand our national network coverage and bring our business to a new level of success.”
The transaction is expected to close in the third quarter of 2015.
