Thomson Geer has acted for a group of shareholders of Australia's leading 4PL logistics company Freight Management Holdings Pty Ltd (FMH) on the sale of a further 10 per cent of the company to Singapore Post for A$62.8 million.

The transaction saw Singapore Post increase its shareholding in FMH from 88 per cent to 98 per cent.

In a separate transaction, SingPost acquired the remaining shares in FMH from FMH management shareholders, giving it full ownership of the company.

Thomson Geer has advised the shareholders of FMH on a number of transactions since 2020 that saw SingPost progressively increase its ownership of the business – from 0 per cent to 28 per cent in 2020, from 28 per cent to 51 per cent in 2021, from 51 per cent to 88 per cent in 2022 and from 88 per cent to 100 per cent in 2023.

Thomson Geer was involved in all stages of the sale process, including negotiations on the share sale and purchase agreement and the shareholders agreement.

FMH provides integrated supply chain and distribution solutions to over 500 businesses across Australia through a 4PL technology platform. The company has a historical business relationship with the SingPost Group, having been a customer of CouriersPlease, a wholly-owned subsidiary of SingPost, for many years.

The Thomson Geer team was led by Partner David Schiavello and Senior Associate Dan Kerr.  David said: "We congratulate our clients on achieving this very significant milestone.  It has certainly been an odyssey for the shareholders, and a thrill for us to have been involved every step of the way in this landmark transaction over the last four years."