Global investment firm KKR announced that KKR has completed KKR’s acquisition of Hitachi Transport System Ltd. (HTS).
KKR holds the shares of HTS through HTSK Co., Ltd. (“HTSK”), a special purpose entity which owns 100% of the shares with voting rights in HTS, and through HTSK Holdings Co., Ltd. (“HTSK Holdings”), a 100% parent and holding company of HTSK.
KKR will work in strategic partnership with Hitachi Ltd. (“Hitachi”), which owns 10% of the shares with voting rights in HTSK Holdings and KKR owns the remaining 90% of the shares with voting rights, the statement said.
HTSK acquired 100% of the shares with voting rights in HTS through a cash tender offer, the results of which were announced on November 30, 2022, a share consolidation that became effective on February 28, 2023, and a buyback by HTS of the shares held by Hitachi on March 1, 2023.
HTS will be renamed LOGISTEED, Ltd. (LOGISTEED) from April 1, 2023, a name that combines LOGISTICS with Exceed, Proceed, Succeed, and Speed, which represents the Company’s determination to grow its business into new areas beyond logistics. Also from April 1, 2023, HTSK Holdings and HTSK will change their names to LOGISTEED Holdings, Ltd., and LOGISTEED Group, Ltd., respectively.
LOGISTEED will build on HTS’ leading position in the third-party logistics (“3PL”) business in Japan. The Company provides supply chain solutions for customers who outsource logistics functions such as logistics system integration, inventory and order control, logistics center operations, factory logistics, and transportation and delivery services. It has a strong domestic 3PL business as well as an international business which includes a forwarding business and related 3PL business.
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