Seko Logistics Announces Recapitalization to Strengthen Balance Sheet and Support Long-Term Growth
Seko Logistics, a global freight forwarding company, announced on Thursday that it has reached a recapitalization agreement with its financial partners to improve its balance sheet. While the specific financial details of the transaction have not been disclosed, it has been described as a “landmark transaction” aimed at stabilizing the company and positioning it for long-term growth.
James Gagne, CEO of Seko, emphasized the significance of this move, stating, “The ongoing freight recession has impacted the entire market. By proactively addressing our balance sheet, we will not only be at the forefront of the industry but also be better equipped to face these challenges and deliver exceptional value to our clients and partners worldwide.”
Ridgemont Equity Partners, a private equity firm, became the majority investor in Seko Logistics through a recapitalization in 2021. The new agreement is supported by Seko’s lenders and equity sponsors.
This new influx of capital is expected to enhance Seko’s financial stability, enabling the company to invest in its workforce, expand its network, and advance its technology. With nearly 50 years of experience, Seko provides comprehensive logistics services from over 150 offices across more than 60 countries.
The deal is anticipated to close in the coming weeks, with the current leadership team continuing in their roles. Gagne further noted, “With the recapitalization and a scalable business plan, SEKO is entering an exciting new phase, backed by the financial and strategic foundation to redefine the future of logistics.”
