Nexus Point acquires Hong Kong freight forwarding business
Tuesday, May 10, 2022
(AVCJ by Tim Burroughs) – Nexus Point Capital, which makes middle-market control investments in Greater China, has acquired a majority stake in Hong Kongheadquartered freight forwarding business Honour Lane Shipping (HLS).
The size of the transaction was not disclosed, although the selling shareholders – including Vincent Chan, the company’s co-founder and president – will remain involved in the business under its new ownership. Bloomberg reported last October that HLS was contemplating a sale at a valuation of approximately USD 500m.
Established in 1997, HLS is a non-vessel-operating common carrier (NVOCC) that provides sea and air freight forwarding and other services to facilitate shipments across the globe.
The company has offices across Asia and the US, with a strong presence in Greater China and Southeast Asia. Chan said in a statement that HLS is enjoying the fastest period of growth in its history and wanted a partner to invest in the business and help “take full advantage of the dynamic changes currently underway in international trade.”
