Antwerp, 17 January 2025

Dear valued customer,

Sofindev has reached an agreement with Bram De Schepper, Isabelle Cools and fellow shareholders Wout Cnops, Michael Daelemans and Nils Van Dessel to establish a strategic partnership with Shipex. Through its Sofindev VI fund, Sofindev will acquire a significant stake in the company. Bram De Schepper, the managing director, will continue to oversee its daily operations. Bram will lead alongside the other shareholders, who are part of the management team and are increasing their stake in the company. Their continued involvement in Shipex’s shareholding underscores their strong commitment to the company’s promising future.  The completion of the transaction is still subject to approval of the Belgian antitrust authority (BMA).

Founded over 40 years ago, Shipex came under the stewardship of Bram De Schepper, the current managing director and majority shareholder, in 2014. Shipex built up a leading position as freight forwarder for various cargo and as reliable partner for all shipping needs, specialized in cold-chain logistics (i.e. reefer logistics) in the sea freight market. The company offers these tailored logistics solutions across a range of industries and products, including but not limited to frozen food and pharmaceutical products.

Shipex has its headquarters in Antwerp but operates on a global scale. Shipex has established a worldwide presence through specialized knowledge and expertise on key trade routes, and long-standing relationships with players in the value chain such as transporters/carriers. The company employs a dedicated team of logistics professionals who are specialized in developing creative solutions to complex logistical problems.

For many years, Shipex has been providing comprehensive freight forwarding services across the entire value chain to facilitate the smooth movements of goods across international borders. These include transportation management, customs brokerage, documentation handling, expert guidance on trade finance, and efficient handling of administrative processes. These services are further supported by the company’s innovative in-house digital platform, enabling transport tracking, data analytics, emission tracking, and more. The company also provides specialized consultancy services, including goods and transport insurance and claims management. This extensive portfolio of high-quality services positions Shipex as the trusted and preferred partner for its clients.

The agreement between Shipex and Sofindev constitutes a relationship with a reliable and strong financial and strategic partner to continue the growth and international development of Shipex’s activities. With the help of Sofindev, management has the ambition to broaden into new end markets, further expand the customer base, and accelerate the internationalization efforts to solidify Shipex’s position as a leader in the cold chain logistics sector. To achieve this ambition and drive the company’s growth, strategic acquisitions of complementary businesses will also be considered.

Bram De Schepper, Managing Director Shipex:

“We're delighted to welcome Sofindev as partner on board. The entry of Sofindev marks an important milestone in the growth and development of Shipex, and provides us with new opportunities for our service offering to customers as well as further expansion of our business.

Sofindev's expertise and resources will support us in our continued growth. They share the DNA of Shipex and have proven success in working with entrepreneurs. This investment also allows us to accelerate our ambitious strategy for the future. Thanks to this partnership we can strengthen our position as a successful and independent medium sized service provider.

We would like to take this opportunity to express our sincere thanks to all our customers and employees."

Jan Camerlynck and Nicolas De Bruyne, Managing Partner and Investment Director Sofindev:

"Shipex is a leading player in the freight forwarding market, specializing in reefer logistics. Its sustained growth is underpinned by exceptional service quality and deep industry expertise, setting the company apart in a competitive landscape. Shipex operates in resilient end markets such as food processing and pharmaceuticals, with several key clients planning and executing expansions that are expected to drive future growth. Shipex is uniquely positioned to support its clients in the global export of these locally produced, high-quality products.

Since the COVID-19 pandemic, global logistics chains have experienced significant transformations, increasing the complexity of managing these processes. In the face of growing macroeconomic uncertainty, navigating this ever-changing environment requires expertise, experience and a personalized approach. Shipex’ ability to meet these challenges has solidified its reputation as a trusted partner for its diverse client base. With Bram and his dynamic team at the helm, we are confident in their ability to drive the business forward. Our partnership brings additional expertise, resources and a robust network to support Shipex’ growth plans. Together, we aim to deliver meaningful value to Shipex’ customers, suppliers, employees and all stakeholders, fostering a strong and sustainable future for the company.”

The investment in Shipex will be the fourth investment of the Sofindev VI fund, which was closed in early 2023 with a committed capital of 250 million euros. Previous investments include Expertum Group, a leading SAP consultant in the Benelux (September 2023), Merkator, active in geospatial software, data and services (December 2023) and Coffee Service Group, market leader in the sale and maintenance of professional coffee machines in the Benelux (March 2024).

Shipex and its shareholders were assisted in this transaction by Vandelanotte. Sofindev was assisted by Stibbe, LDS Advisory and Roland Berger.

About Sofindev

Sofindev is a leading independent private equity firm specializing in buyout and growth capital for small and medium-sized companies in the Benelux region. Sofindev was founded in 1991 by two leading family-controlled listed groups. Since then, the Sofindev team has evolved to full independence and has surrounded itself with a wider range of respected family and (international) institutional investors. These investors include entrepreneurs and owners of family businesses in which Sofindev has invested in the past.

Since 2015, more than €500 million of capital has been raised to invest in Belgian and Dutch small and medium-sized companies, which in turn have made dozens of acquisitions, at home and abroad. Currently, the Sofindev team manages the Sofindev IV fund (°2015) with a committed capital of €107 million, the Sofindev V fund launched in 2020, with total commitments of €170 million and the €250 million fund launched in early 2023, Sofindev VI. The Sofindev funds invest in the capital of successful small and medium-sized companies in the Benelux, in partnership with the entrepreneurs and management teams of these companies, to support their further growth.

More information on Sofindev: www.sofindev.com

Best regards

Shipex