Australasian port and logistics group LINX Cargo Care has acquired wood chipping and woodyard management firm Pederson Group.
LINX Cargo Care Group said on July 24 it had entered into a purchase agreement with Pedersen Group through its subsidiary C3 Limited, for an undisclosed sum.
Pedersen Group handles more than 8.3 million tonnes of wood fibre across its operations every year, in the form of logs, wood chip and hog fuel. It employs 140 people across Australia and New Zealand and has an existing joint venture with C3, providing wood yard management services.
“LINX, C3 and Pedersen share a long and rich history in the forestry industry,” LINX chief executive Anthony Jones said.
“Our combined expertise and experience will provide an enhanced customer offering, further access to capital, and the opportunity to collaborate and collectively grow into the future.”
Jones said the acquisition would add a complementary service offering to LINX’s customers, and a highly skilled workforce specialising in wood chipping and woodyard management.
“Pedersen’s will enable our organisation to grow its services to forest owners and wood processing businesses,” Jones said. “In addition, Pedersen’s capabilities and services complement C3’s existing customer offering and will extend our reach to a customer base in diversified global markets.”
Pedersen Group will continue to operate independently under its own brand under its new ownership, LINX said.
Pedersen chief executive Gavin Hudson said the conditional agreement would provide his company with an aligned and committed long-term owner.
“We are delighted to finalise this agreement,” Hudson said. “The acquisition of Pedersen Group by LINX Cargo Care Group will provide long-term stability for our employees and customers, and the operational and financial capacity to allow our business to pursue its growth aspirations.”
Alongside C3, LINX Cargo Care Group also includes subsidiaries LINX, Autocare and Geelong Port. The group is owned by Brookfield.