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Seko Acquires Forwarder, E-Commerce Firm Air-City To Expand NYC, China Operations

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Seko Acquires Forwarder, E-Commerce Firm Air-City To Expand NYC, China Operations

Seko Logistics said Tuesday it has acquired Air-City Inc., a New York City-based freight forwarder and cross-border e-commerce firm, for an undisclosed sum. Seko said it is its biggest acquisition ever.

Privately held Seko said the acquisition will strengthen its position in the New York region, particularly its gateway operations, by adding facilities in the tight market for supply around JFK International Airport.

The acquisition will also boost Seko's position in China, where Air-City was one of the first groups of foreign freight agents to be authorized to operate in China when the country opened its doors to non-Chinese agents in 1994, Seko said.

In January 2019, Seko, based in Itasca, Illinois, made its first full acquisition when it purchased GoodShip International Inc., a Chicago-based shipping, customs brokerage and compliance firm, for an undisclosed sum. The previous September, Seko had acquired a majority stake in Omni-Channel Logistics, a longtime partner, to boost itsĀ  e-commerce and information technology offerings.

At the time of the GoodShip deal, Seko executives said the company would likely pursue "tuck-in" acquisitions, smaller transactions that fill a specific void in the company's portfolio.

Image by Daria Nepriakhina from Pixabay

Posted-In: ChinaM&A News Commodities Retail Sales Global Markets General

 

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