ID Logistics Group SA (ENXTPA:IDL) agreed to acquire Kane Logistics, Inc. from Harkness Capital Partners LLC for an enterprise value of approximately $240 million on February 13, 2022. The Kane team will continue with the Company post the closing of the investment and the group will rely on the management of Kane Logistics to manage all its North American activities. At closing, the transaction will be based on an enterprise value of $240 million and will be settled entirely in cash. ID Logistics will maintain a sound financial structure with a pre-IFRS16 debt ratio estimated at 2.6x post-acquisition proforma EBITDA. This acquisition will be accretive on the EBITDA of the ID Logistics group from the first year of consolidation. The transaction remains subject to the approval of the competent US antitrust authorities (Hart-Scott-Rodino Antitrust Improvement Act). The acquisition is expected to be completed before the summer of 2022. Stéphane Vanbergue and Pierre-David Forterre of Eight Advisory acted as financial due diligence and Guillaume Rembry and Hubert Christophe of Eight Advisory Avocats acted as tax due diligence advisors to ID Logistics. Jean-Marc Franceschi, Ashlee Sawyer Gilson, Michel Quéré, Eric Paroche, Ludovic Geneston, Mark Weinstein, Carin Carithers, Robert Baldwin, Brian Curran, Sophie Lok and Nathan Cooper of Hogan Lovells acted as legal advisor for ID Logistics. BofA Securities Europe SA acted as financial advisor to ID Logistics Group SA. Frank Mountcastle and Jonathan Meredith of The Harris Williams Transportation & Logistics Group acted as financial advisor to Kane Logistics.
As on April 4, 2022, Stan Schrader, Chief Commercial Officer of Kane Logistics, has been appointed CEO of ID Logistics US.

ID Logistics Group SA (ENXTPA:IDL) completed the acquisition of Kane Logistics, Inc. from Harkness Capital Partners LLC on April 4, 2022.