IMAP advises CargoMaster on sale of Colombian and Ecuadorian operations to global transport and logistics leader Panalpina
CargoMaster, along with its subsidiary Laseair, is one of the largest companies in Latin America specializing in the freight forwarding of perishables, mobilizing over 85,000 tons during 2018.
IMAP Colombia advised CargoMaster S.A.S. on the sale of its Colombian and Ecuadorian operations (the latter through its subsidiary Laseair S.A.) to Panalpina Group, one of the world’s leading players in the transport and logistics industry.
CargoMaster, along with its subsidiary Laseair, is one of the largest companies in Latin America specializing in the freight forwarding of perishables, mobilizing over 85,000 tons during 2018. The Company has an impressive track record, with over 30 years in the logistics industry. It employs 134 staff in Colombia (Bogota and Medellin) and 32 in Ecuador (Quito), exporting flowers and fruits primarily to the US, but also to Europe and Asia.
Panalpina Group combines its core services – Air Freight, Ocean Freight, Logistics and Manufacturing – to deliver globally integrated, tailor-made end-to-end solutions across 12 industries. It operates via a network of 500 offices across 70 countries and partner companies in another 100 countries. This acquisition makes Panalpina the market leader in Colombia and Latin America and strengthens its position in Ecuador.
The IMAP Colombia team, led by Felipe Camacho, advised CargoMaster through the sale process.