LINX Cargo Care Group and subsidiary C3 Limited have announced the acquisition of Pedersen Group, a provider of wood chipping and woodyard management services on both sides of the Tasman.
According to a LINX statement, Pedersen Group handles more than 8.3m tonnes of wood fibre across its operations annually in the form of logs, wood chip and hog fuel (a wood residue).
Pedersen employs 140 workers across Australia and New Zealand and has an existing joint venture with C3 which provides wood yard management services.
LINX Cargo Care Group chief executive and C3 chairman Anthony Jones said the acquisition of Pedersen Group brought a complementary service offering to customers.
“LINX, C3 and Pedersen share a long and rich history in the forestry industry,” Mr Jones said.
“Our combined expertise and experience will provide an enhanced customer offering, further access to capital, and the opportunity to collaborate and collectively grow into the future.
“We are very excited to welcome Pedersen Group to LINX Cargo Care’s group of companies.”
Mr Jones said the acquisition would allow the organisation to grow its services to forest owners and wood processing businesses.
“The synergies and strategic alignment between Pedersen’s and C3’s forestry business is significant,” he said. “Importantly, our company values are closely aligned, and we very much look forward to welcoming Pedersen’s talented and highly skilled workforce to the team.”
Pedersen Group chief executive Gavin Hudson said the conditional agreement would provide the Pedersen Group with “an aligned and committed long-term owner”.
“The acquisition of Pedersen Group by LINX Cargo Care Group will provide long-term stability for our employees and customers, and the operational and financial capacity to allow our business to pursue its growth aspirations,” Mr Hudson said.
Pedersen Group is expected to continue to operate independently under the Pedersen brand with Pedersen employees to be retained by the new owner.