SingPost completes FMH divestment to PEP

Pacific Equity Partners agreed to acquire SingPost’s Australian logistics business in a sale announced on 2 December 2024. The disclosed enterprise value was A$1.02 billion, approximately S$897.6 million at announcement, with anticipated cash consideration of A$775.9 million, approximately S$682.81 million, subject to adjustments. SingPost confirmed completion on 27 March 2025, retaining the A$1.02 billion enterprise value and reporting gross proceeds of about A$781.5 million, or S$664.2 million. FMH subsequently identified PEP as majority shareholder alongside private investors Damian Degenhardt and Paul Little. The group includes efm Logistics, Flip, Border Express and other transport businesses. PEP’s backing supports proprietary technology investment, business development and strategic acquisitions. Paul Little became chair while Simon Slagter continued as chief executive.