Key Takeaways
- Sector: Transport Infrastructure & Services (traditional).
- Geography: Singapore.
Analysis
I Squared Capital has emerged as the frontrunner to acquire Goodpack, a Singapore-based logistics firm owned by KKR, in a deal potentially valued at $1.5 billion.
The U.S. private equity firm is currently conducting due diligence on Goodpack, which KKR acquired and delisted from the Singapore Exchange in 2014 for over $1 billion. Other contenders in the sale process reportedly include Brookfield Asset Management and Apollo Global Management. A final agreement could be reached by November, pending the outcome of due diligence.
Goodpack's Global Operations
Founded in 1980, Goodpack is a global provider of reusable intermediate bulk containers (IBCs), offering sustainable packaging solutions to industries such as automotive, chemicals, food, and rubber. The company operates in over 70 countries, managing a fleet of more than 4 million pallet-sized containers across 5,000+ delivery and collection points worldwide.
Goodpack's IBCs are designed to optimize supply chain efficiency, reduce waste, and support environmental goals. By promoting a circular supply chain model, the company helps clients minimize costs and environmental impact.
KKR's Strategic Investment
KKR's acquisition of Goodpack in 2014 marked its first transaction in Singapore since establishing its Southeast Asia headquarters in 2012. The partnership aimed to leverage KKR's global network to expand Goodpack's market presence and enhance operational efficiency. Goodpack benefited from KKR's expertise in driving growth and implementing environmental, social, and governance (ESG) considerations into its business practices.