One of the largest worldwide logistics providers, Aramex announced today that they have obtained all necessary approval permits for acquisition of Access USA Shipping’s ‘MyUs’, a global e-commerce enabling platform. Dubai-based Aramex’s largest purchase to date, it was finalized for about $265 million USD in all-cash.
US-headquartered, MyUS is a leading technology-driven and cross-border e-Commerce enabling platform. They provide cost-effective package forwarding solutions. In 2021, the Company generated more than USD $100 million in revenue and delivered 1.1 million packages to customers who shop from retailers based in the US, UK and China.
MyUS will be completely integrated into Aramex’s business – operating as a business unit under the Company’s Courier business sector. However, MyUS will continue to operate under its current name and will be an addition to Shop & Ship, Aramex’s platform for subscription-based last mile e-Commerce solutions.
“We at MyUS are excited to begin a new chapter of growth with Aramex. We are ready to take our products and solutions to new markets by leveraging on Aramex’s extensive global network, scale, knowledge and expertise in markets exhibiting very attractive characteristics such as the MENA region, the UK and Australia,” says Ramesh Bulusu, Chief Executive Officer of MyUS.
By expanding service to additional sources and destinations, strengthening, and diversifying its client base, and increasing cargo volumes, the purchase will significantly improve Aramex’s cross-border express business. Additionally, this deal is anticipated to instantly add value for Aramex by boosting sales, improving profitability and improving cash conversions.
Othman Aljeda, Chief Executive Officer of Aramex, says, “With the successful close of our largest strategic acquisition to date, Aramex has become an even more competitive player in the cross-border E-commerce space. Given how complementary MyUS’s business is to ours, we believe our wider stakeholder universe will realize the immediate and long-term positive benefits of this acquisition.”
“Our employees will benefit from knowledge sharing, further developing their expertise in the cross-border express business, including learning and adopting MyUS’s leading proprietary software. As we start the integration process, I would like to extend a warm welcome to MyUS’s employees and customers and look forward to growing further, together,” he said.
Throughout the transaction, Citi Group acted as financial adviser, and Cravath, Swaine & Moore acted as legal adviser to Aramex; while UBS acted as financial adviser, and King & Spalding acted as legal adviser on behalf of all sellers, including an affiliate of Palm Beach Capital, a middle-market private equity investment firm based in West Palm Beach, Florida.
