IslamicFinance.de

Arcapita Bank announced the sale of 3PD Holding, Inc. (3PD), a last-mile logistics company in the United States and Canada, for $365m. 3PD was acquired by XPO Logistics Inc., a transportation logistics companies serving North America. Arcapita acquired a majority stake in 3PD in 2006 and afterwards provided investment capital to 3PD. Its portfolio managers worked closely with the founders and management of 3PD to develop and deliver a strategy that propelled the business to a market leadership position despite a weak economy. Profitability has since grown by over 70%. The sale of 3PD to XPO is considered to be strategically the right step in the business' development.