Mexico City, June 19, 2023 – Grupo Traxión, S.A.B. de C.V. (“Traxión” or the “Company”) (BMV: TRAXION A), a leading transportation, mobility, and logistics company in Mexico, announces that it has successfully closed the acquisition of BBA Logistics, a door-to-door and cross-border cargo brokerage company in the United States, with a 100% asset-light model, following its expansion strategy to the U.S.
The acquisition price was Us. 10 million in cash. 40% of the price was paid at closing, and the remainder will be paid within the following two years, subject to certain metrics and results.
BBA Logistics estimates that it will generate approximately Us. 22 million of revenue, with a 10% EBITDA margin in 2023. The company is totally free of debt. TRAXIÓN expects to realize commercial synergies with TRAXPORTA, its digital domestic cargo brokerage app.
“With this acquisition, TRAXIÓN moves forward with its expansion plans into the United States, particularly in domestic and cross-border cargo services, following its inorganic growth path through asset-light companies within its logistics and technology division. With the integration of BBA Logistics, TRAXIÓN strengthens its strategic position to continue to capitalize opportunities brought by the Nearshoring phenomenon.” – commented Aby Lijtszain, executive president and founder of TRAXIÓN.
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