Company
Team Global Express is a multi-modal transport business with an extensive network across Australia and New Zealand that delivers critical logistics services.
The Group provides express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand. Team Global Express serves over 36,000 customers and employs more than 8,000 people.
Investment
In September 2021, Allegro Funds acquired Team Global Express via a complex corporate carve-out from Japan Post.
At the time of acquisition, Team Global Express was a deeply distressed business. Since acquisition, Allegro harnessed its large Operating Partner team to stabilise and complete the separation of the business from Japan Post.
A new executive team around a strong CEO, Christine Holgate, was also put in place to drive the transformation plan.
Outcomes
Through Allegro’s investment and active transformation, Team Global Express was able to go from deeply distressed to growing in the span of two and a half years.
Today, and under continued Allegro ownership, Team Global Express is in a stronger and better position both financially and operationally.
Furthermore, the business has an ambition to grow in newly developed business lines, such as eCommerce, and is at the forefront of a green revolution in the logistics industry with Australia’s largest fleet of electric delivery trucks.
Investor
Allegro is Australasia’s largest transformation and turnaround private equity firm. It provides transformational capital - applying capital, expertise and a distinctly hands-on approach - to invest in businesses and reposition them for sustained long-term growth.
Over the past 20 years, Allegro has demonstrated a strong track record of partnering with management teams and key stakeholders to build better businesses and create enduring value. Allegro manages funds on behalf of local and global institutional investors, including some of the largest superannuation funds.