#Canada #Toronto #Platinum Equity #Livingston International #Purolator

Platinum Equity Sells Livingston International to Purolator

In a significant development in the logistics and trade services sector, Platinum Equity has announced the acquisition of Livingston International by Purolator Inc., a renowned leader in integrated freight solutions. This strategic sale marks an important milestone for both companies as they look to leverage their strengths in customs brokerage and logistics operations.

Background of the Deal

Platinum Equity, based in Los Angeles, acquired Livingston International in 2019. Under its stewardship, the company underwent a transformative journey aimed at optimizing its operational capabilities and expanding its digital services. Founded in 1945 and headquartered in Toronto, Livingston has built a reputation as a trusted advisor to over 30,000 businesses involved in international trade, making it Canada's largest customs broker and the fifth-largest entry filer in the U.S.

During Platinum Equity's ownership, Livingston enhanced its core offerings, particularly in customs brokerage and trade consulting. This transformation involved substantial investments in technology, talent acquisition, and operational efficiency designed to bolster the company’s market standing.

The Significance of the Purchase

The purchase of Livingston by Purolator underscores a deep-rooted relationship between the two entities, as Purolator has long relied on Livingston's customs brokerage expertise. Louis Samson, Co-President of Platinum Equity, expressed confidence in the potential for growth under Purolator’s management. “Purolator’s long-standing partnership with Livingston positions them as a perfect fit for the next chapter in the company’s evolution,” he stated.

Samson also mentioned the favorable transformations that Livingston has gone through during their partnership, highlighting its newfound resilience and efficiency. “With the advancements we've made together, Livingston is now poised for ongoing success in the ever-evolving landscape of international trade services,” he added.

Future Prospects for Platinum Equity

Despite the sale of Livingston, Platinum Equity remains committed to expanding its portfolio within Canada. With a historical presence in the Canadian market, Samson indicated that the firm is exploring additional opportunities to invest in local businesses. Platinum Equity’s recent agreement to acquire Héroux-Devtek, a manufacturer specializing in aerospace and defense products, further exemplifies its strategy for growth in diverse sectors.

Samson, who has strong ties to Canada, noted, “Our extensive experience and understanding of the Canadian market dynamics allow us to identify and leverage value-creation opportunities with local enterprises.”

Industry Implications

As the logistics landscape continues to evolve due to globalization and technological advancements, this acquisition will likely fuel competitive advantages for both Purolator and Livingston. With Livinston’s transformative enhancements and Purolator's integrated approach to freight and logistics, the partnership will enhance service offerings and operational efficiency for businesses navigating complex trade regulations.

Conclusion

In conclusion, the sale of Livingston International to Purolator by Platinum Equity is a strategic decision reflecting broader trends in the logistics sector. This deal not only solidifies Purolator's standing in the industry but also illustrates Platinum Equity's adeptness in identifying and maximizing value in its investments. The evolving dynamics of international trade will continue to present new challenges and opportunities, and this partnership positions both firms for sustained success.

For further updates on developments in the logistics sector and investments in Canadian markets, stay tuned to our upcoming reports.