TM Insight eyes Asian expansion following XAct Solutions acquisition
16 September 2020, Written by Business News Australia
Supply chain specialist TM Insight will double the size of its team following the acquisition of XAct Solutions, powering the company up to expand in the Australian and Southeast Asian markets.
Post-acquisition TM Insight's team of logistics specialists will grow to 110, during what co-founder and CEO Travis Erridge (pictured right) says is a challenging time for supply chains.
Founded in 2005, XAct Solutions has a presence across Sydney, Melbourne, Singapore, Ho Chi Minh City, Hanoi and Tokyo.
The combined entity has a wealth of experience under its belt to tackle expansion plans, with both having designed and delivered major supply chain transformations and automated warehouses for Coca-Cola Amatil (ASX: CCL), Asahi, Woolworths (ASX: WOW), Coles (ASX: COL), Kmart, Bunnings and more.
"Since our inception, TM Insight has grown to become an innovative force in the supply chain and property industry," says Erridge, the 2018 Melbourne Young Entrepreneur of the Year.
"The acquisition of XAct Solutions marks our next era of expansion, bringing together the expertise and know-how of two leading businesses for the benefit of customers."
Together, the businesses will provide end-to-end services including strategy work, the provision of network design, transportation and distribution centre solutions, as well as industrial property design, procurement, and project management.
"XAct Solutions will increase TM Insight's geographic reach and significantly bolster our supply chain capabilities by providing us with industry best practice systems to strengthen our unique integrated service offering in supply chain, property and project management," says Erridge.
Further, Erridge says the acquisition will allow clients' needs to be better serviced during a challenging time for supply chains thanks to COVID-19 disruptions.
"At a time where supply chains have never been more challenged with global restrictions and the acceleration in e-commerce, we are bringing together the top talent in the sector," says Erridge.
"This will provide our customers the support they need to futureproof their business and optimise their operations for the long-term."
The acquisition was backed by private-equity firm Next Capital, brought on last year by TM Insight as joint shareholders to help the business scale up.
Founding partner of Next Capital John White says the merged entity will be even more powerful.
"Next Capital are delighted to support bringing together the region's preeminent firms in supply chain, logistics and related property consulting services," says White.
"Our business model looks to support high quality teams with real competitive advantage, and we see those attributes in these organisations individually and even more powerfully as an integrated group.
"We look forward to working with all involved to deliver excellent solutions for our customers."
Business News Australia
Author: Business News Australia