Kuehne + Nagel is reportedly considering strategic options for its Apex Logistics unit, including the sale of a minority stake or an Apex listing. This comes after Kuehne + Nagel completed its full acquisition of Apex Logistics. Previously, on October 23, 2025, Kuehne + Nagel International AG agreed to acquire an additional 24.90% stake in Apex Logistics International (CN) Limited from Partners Group Holding AG for an enterprise value of $4 billion, with the transaction expected to close in 2025. This deal concluded Partners Group's full exit from its original investment in Apex, which it had held since 2021.
Partners Group's stake sale was reported to be settled in cash during the fourth quarter of 2025, against a recognized redemption liability of CHF 886 million ($998 million, based on approximate conversion rates). The transaction valued Apex Logistics at an enterprise value of over $4 billion, marking a significant return for Partners Group's clients. Partners Group had focused on expanding Apex's international operations, increasing its presence in fast-growing freight sectors, and growing accounts with global businesses.
Kuehne + Nagel initially acquired a majority stake in Apex International Corp. in February 2021 in a deal that reportedly valued the freight forwarder at approximately $1.5 billion. At that time, Kuehne + Nagel purchased the majority stake from MBK Partners, a North Asia-focused private equity firm, while Apex Logistics management retained a minority stake. Apex Logistics, founded in 2001 and headquartered in Singapore, serves over 20,000 customers across more than 70 countries, moving 420,000 tons of airfreight and 300,000 TEU of ocean freight in 2024. The company's EBITDA increased by 151% over the last five years, demonstrating strong growth under the joint efforts of Kuehne + Nagel and Partners Group.
The current consideration of options, including a minority stake sale or a listing, suggests Kuehne + Nagel might be looking to optimize its portfolio or free up capital for other investments, while potentially allowing Apex to continue its growth as an independent entity within the market. This deliberate path to an Apex listing is seen by some insiders as an early consideration.
