2022/05/09

BDA advises Honour Lane Shipping on its sale to a consortium led by Nexus Point

Divested Honour Lane Shipping to Nexus Point

2022

BDA Partners is pleased to announce that its client, Honour Lane Shipping (“HLS”) has sold a majority stake to a consortium led by Nexus Point, an Asian private equity fund focused on control opportunities in Greater China. The selling shareholders will remain in the business and will continue to drive HLS’ growth alongside Nexus Point. 

Established in 1997 and headquartered in Hong Kong, HLS is a leading global non-vessel-operating common carrier (“NVOCC”) providing freight forwarding services. It is consistently ranked as one of the largest NVOCCs in the Asia-US trade lane in terms of volume. HLS provides sea freight forwarding, air freight forwarding, and other value-added services to facilitate shipments across the globe. HLS operates a network of offices in Asia and in the US with a strong presence in Greater China and Southeast Asia regions. 

BDA Partners acted as exclusive financial advisor to HLS on the transaction. 

Vincent Chan, President, Honour Lane Shipping, said “I am delighted to welcome Nexus Point as a shareholder in HLS as we enjoy the fastest period of growth in our history. We are looking forward to working with their team as we continue to invest in the business to take full advantage of the dynamic changes currently underway in international trade. We are certain that our partnership will enable us to extend our leadership position in the strategic Asia-US lane and strengthen our offering in other markets including Europe, Oceania, and Latin America. We are excited to embark on this new journey with Nexus Point to introduce impactful solutions to our customers including via a dedicated e-commerce platform, expansion of our air freight capabilities, and a digital transformation which will enable us to offer a better experience to our customers and strategic partners around the globe.”

KC Kung, Founder and Managing Partner, Nexus Point, said “Our investment strategy centres around identifying companies with robust operating fundamentals, defensible market positions, and sustainable competitive advantages. HLS satisfies all these criteria thanks to its unique business model, deep relationships with customers and vendors, and profound understanding of the market and its players. We are thrilled to join forces with one of the most experienced teams in the Asian logistics sector and we are grateful for the trust placed in us by the shareholders and the management team. We are optimistic about HLS’ future as one of the largest NVOCCs in the transpacific lane, and are committed to take the company to new heights together with our new partners.”

Simon Kavanagh, Partner, Head of Hong Kong, BDA Partners, said “This transaction is another example of BDA’s expertise and ability in helping entrepreneurs and families to find new partners and transition to new phases of company ownership. It showcases our strength in transportation & logistics: this is the fifth Services sector transaction that BDA has closed in 2022. We look forward to witnessing the next stage of growth for HLS under Nexus Point ownership.”

HLS was also advised by Alvarez & Marsal (financial, tax), Simmons & Simmons (legal), PwC (commercial). 

About Honour Lane Shipping

Established over 25 years ago in Hong Kong, HLS is a leading global logistics services provider and one of the largest non-vessel-operating carriers (“NVOCC”) in the transpacific trade lane. HLS has a well-developed, integrated, and seamless network of transportation solutions across sea, air, and land. Led by a founding management team with an average of 26 years’ industry experience, HLS prides itself in its strong partnerships with global freight forwarding agents, local logistics vendors, and leading container shipping companies to offer its clients access to a robust transportation network and fulfil their supply chain needs. HLS operates over 30 offices spread across Greater China, Southeast Asia, and the US and employs nearly 1,500 staff. hlsholding.com/

About Nexus Point

Nexus Point was founded with the objective of generating superior long-term returns by making control investments in Asia, particularly in Greater China. Nexus Point targets high quality companies with strong growth prospects in the consumer, healthcare, business services, and manufacturing / industrials sectors, with an emphasis on portfolio value creation. nexuspoint.com

About BDA

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com