ANE Logistics Completes Approximately US$ 300 Million Financing2021-02-12
ANE Logistics, China’s leading less-than-truckload (LTL) logistics service platform, today announced that it has received approximately US$300 million financing. The financing is led by CPE and participated by Great Bay Area Fund, NWS Holdings (0659.HK), Liumai Capital and Huagai Capital.
Since its inception 10 years ago, ANE Logistics has become a leading and well-regarded LTL logistics player through consolidating the LTL truck transportation industry and building the truck transportation partnership platform. So far, the daily peak truckload handled by ANE has surpassed 50,000 tons, with over 26,000 partner outlets and agents covering 96% of the townships in China. The successful financing demonstrates the strong confidence by the capital market in the LTL sector and leading logistics network players.
Jeff Wang, Chairman of ANE Logistics, commented: “The logistics network is an important pillar supporting the development of China’s internet-driven C2M manufacturing industry and flattened supply chain, as well as part of the infrastructure for the manufacturing and logistics sectors. ANE will leverage this financing to invest in the upgrade of the digital capabilities and acceleration of China’s logistics sector.”
Centurium Capital invested in ANE in January 2020 and is its second largest shareholder in the company. Michael Chen, Managing Director of Centurium Capital, commented, “Congratulations to ANE for the closing of this new round of financing from CPE and other investors, which we believe will further expand the company’s leadership position. We continue to be confident of the huge potential of China’s logistics sector and ANE’s unique proposition. Despite challenges in 2020, the company has sustained its growth momentum through market consolidation to build its platform, providing the best solutions to its customers.”