Igneo Infrastructure Partners has agreed to buy Australian supply chain logistics company Strait Link from Allegro Funds.
Although the firm declined to confirm a specific price, an Igneo spokesperson said the deal value falls at the “lower end” of the A$400m to A$500m (€226m to €282m) range previously estimated by local media.
Based in Tasmania and Victoria, Strait Link is the largest integrated freight logistics provider across the Bass Strait, linking Tasmania and mainland Australia.
The company has a 45% market share of the Bass Strait trade and is integral to the supply chain in the area. It operates on long-term leases over strategic port terminals in Burnie and Melbourne and logistics depots across Tasmania.
Danny Latham, head of Igneo Australia and New Zealand, said: “Strait Link is a quality addition to our portfolio of assets across the region and aligns with our strategy to invest in a diversified portfolio of core-plus mid-market assets.
“As a leader in transport and logistics, Strait Link further diversifies our current regional portfolio of quality energy, waste and digital assets and provides the opportunity for long-term growth.”
To read the latest IPE Real Assets magazine click here.
