Copenhagen, Denmark: A.P. Moller – Maersk has announced its strategic acquisition of Pilot Freight Services (Pilot), a leading North American provider specializing in first, middle, and last mile logistics solutions for big and bulky freight. This acquisition, finalized on February 9, 2022, marks a significant step in Maersk’s ongoing commitment to bolstering its integrated logistics offerings, particularly within the burgeoning e-commerce sector. Pilot Freight Services, previously owned by ATL Partners and British Columbia Investment Management Corporation (BCI), brings to Maersk a robust network and specialized expertise in handling oversized shipments for both Business-to-Consumer (B2C) and Business-to-Business (B2B) distribution models.
This strategic move to acquire Pilot Freight Services is a direct response to the evolving demands of modern supply chains. By integrating Pilot’s capabilities, Maersk is proactively addressing the increasing complexities of e-commerce logistics, especially for large and unwieldy items. The acquisition complements Maersk’s previous investments in North American landside logistics, including Performance Team (PT), specializing in B2B warehousing and distribution, and Visible SCM, focused on e-commerce warehousing and parcel distribution. Pilot’s unique strengths in the big and bulky segment are expected to unlock substantial cross-selling opportunities and create significant operational synergies across Maersk’s service portfolio, ultimately enhancing cost efficiency and service integration.
“At Maersk, we are dedicated to building a truly end-to-end integrated logistics experience for our customers,” stated a Maersk spokesperson. “The acquisition of Pilot Freight Services is a crucial element in this strategy, enabling us to deliver enhanced visibility, greater control, and improved resilience throughout our customers’ supply chains. Pilot’s specialized capabilities are particularly vital as we see the rapid acceleration of e-commerce, especially in the big and bulky sector. Furthermore, integrating Pilot into our network presents considerable opportunities for cost synergy and operational optimization.”
The global pandemic has dramatically accelerated existing trends in supply chain management, most notably the surge in e-commerce. This shift is particularly pronounced in the market for big and bulky goods, necessitating sophisticated distribution networks and specialized logistics solutions. Industries across both B2C sectors like retail, home furnishings, and consumer electronics, and B2B segments such as aerospace, automotive, and healthcare are adapting their supply chains to meet these evolving consumer expectations. Pilot Freight Services stands at the forefront of this evolution, equipped with a comprehensive North American network designed to handle these challenges.
Pilot Freight Services operates an extensive, facilities-based transportation network spanning North America. This network includes 87 strategically located stations and hubs that facilitate the efficient transportation and distribution of freight to end customers. Leveraging a combination of third-party trucking providers and controlled capacity, Pilot ensures high-quality first, middle, and last mile service delivery. Their service offerings encompass both Full Truckload (FTL) and Less-Than-Truckload (LTL) shipping, catering to both B2C and B2B distribution needs. Pilot is particularly renowned for its expertise in handling heavy and bulky shipments, providing specialized white glove service and focusing on expedited and time-definite deliveries.
The combined infrastructure of Pilot and Maersk will offer customers access to approximately 150 facilities across the United States, including strategically positioned distribution centers, hubs, and stations. This extensive landside logistics network, coupled with Maersk’s expansive international presence, will create unparalleled end-to-end supply chain performance capabilities. Pilot’s prior acquisition of American Linehaul Corporation in July 2021 was instrumental in establishing its market-leading expertise in middle mile and expedited LTL services, further enhancing the value proposition for Maersk customers.
“Investing in and seamlessly integrating first, middle, and last mile services is a direct response to clear customer demand,” added the Maersk spokesperson. “This acquisition significantly enhances our capacity and expertise to support customers facing supply chain constraints and the complexities of managing multiple handoffs with various providers in both the B2C and B2B sectors. Upon finalizing this transaction, we will be uniquely positioned to help our customers build stronger, more integrated supply chains, providing superior visibility and ultimately, better outcomes for their end consumers. We are thrilled to welcome the talented Pilot Freight Services team to the A. P. Moller – Maersk family.”
“Pilot Freight Services is excited to become part of Maersk,” commented Pilot Freight Services’ CEO. “This is an ideal evolution for our company, our customers, and our employees. Joining forces with Maersk provides us with the opportunity to leverage a global platform and participate in the ambitious journey of simplifying and integrating global supply chains. This collaboration will enable us to operate on an even larger scale and deliver even greater value to our customers.”
Transaction Details
The acquisition price for Pilot Freight Services is USD 1.68 billion, equating to an enterprise value of USD 1.8 billion post IFRS-16 lease liabilities. This reflects a pre-synergy EV/EBITDA multiple of 13.8x, based on an estimated post IFRS-16 EBITDA of approximately USD 130 million for the full year 2021. The acquisition remains subject to customary regulatory review and approvals, which are anticipated to be completed by Q2 2022. Until regulatory approvals are secured, both Pilot Freight Services and Maersk will continue to operate as independent entities, maintaining their usual business operations.
About Pilot Freight Services
Founded in 1970 and headquartered in Glen Mills, Pennsylvania, Pilot Freight Services has established itself as a premier U.S.-based provider of last mile and full mile solutions. With 87 locations across North America and additional offices in Spain and the Netherlands, Pilot employs over 2,600 full-time professionals and utilizes a flexible pool of employees to manage seasonal volume fluctuations. The company’s core specialization lies in Business-to-Consumer (B2C) home delivery of big and bulky goods (exceeding 70 kgs/155 lbs) within the U.S., and Business-to-Business (B2B) transport of high-value, time-sensitive freight. Pilot’s comprehensive service suite includes last mile and full mile solutions, often incorporating in-home installation services. Further information is available at Pilot Freight Services.
About A.P. Moller – Maersk
A.P. Moller – Maersk is an integrated container logistics company focused on connecting and simplifying global supply chains for its extensive customer base. As a world leader in shipping services, Maersk operates across 130 countries and employs a global workforce of approximately 95,000 dedicated professionals.
Pilot Network Locations
For More Information, Please Contact:
International Media Contacts
Signe Wagner
Head of Media Relations
+45 2977 1815
Email Signe Wagner
Danish Media Contacts
Christian Kjærgaard-Winther
Senior Press Officer – Logistics Business
+45 31449617
Email Christian Kjærgaard-Winther
North America Media Contacts
Tom Boyd
Media Relations Manager
+1 704 430 3442
Email Tom Boyd
