Global investment firm KKR completed KKR’s acquisition of Hitachi Transport System (HTS). KKR holds the shares of HTS through HTSK, a special purpose entity which owns 100% of the shares with voting rights in HTS, and through HTSK Holdings, a 100% parent and holding company of HTSK. KKR will work in strategic partnership with Hitachi, which owns 10% of the shares with voting rights in HTSK Holdings and KKR owns the remaining 90% of the shares with voting rights.
HTSK acquired 100% of the shares with voting rights in HTS through a cash tender offer, the results of which were announced on Nov. 30, 2022, a share consolidation that became effective on Feb. 28, and a buyback by HTS of the shares held by Hitachi on March 1.
HTS will be renamed LOGISTEED from April 1, 2023, a name that combines LOGISTICS with Exceed, Proceed, Succeed and Speed, which represents the company’s determination to grow its business into new areas beyond logistics. Also from April 1, 2023, HTSK Holdings and HTSK will change their names to LOGISTEED Holdings and LOGISTEED Group, respectively.
LOGISTEED will build on HTS’ position in the third-party logistics business in Japan. The company provides supply chain solutions for customers who outsource logistics functions such as logistics system integration, inventory and order control, logistics center operations, factory logistics, and transportation and delivery services.
