LOGISTICS and shipping agency group VertomCory has acquired Australian Monson Agencies from Five V Capital.
VertomCory said through the purchase, it is expanding its global shipping presence into the Asia Pacific region from its stronghold in Europe and will integrate Monson with its business and retain the brand.
Monson Agencies CEO Rob Davis welcomed the transaction.
“We are excited to join VertomCory. This is a great step forward for Monson Agencies to be joining a shipping company with such strong standing in Europe,” he said.
“I look forward to working with the new owners and expanding our capacity across global shipping ports, with the investment, scale and experience that VertomCory brings,” he said.
Dale Monson, who retained a minority interest after Five V invested in the business, said he was delighted with the transaction. “As the industry consolidates, I welcome VertomCory as a tremendous custodian of the business given it is an established leading operator which will continue to drive Monson Agencies’ growth,” he said.
VertomCory’s executive team said the deal established the company as a “market leader in shipping agency”.
“We will now be able to compete on size-for-size basis with the world’s largest shipping agencies given our greater global presence and expansion into the Asia Pacific. The alignment of values and reputation between our organisations makes Monson an excellent fit and will establish VertomCory as number one in the eyes of clients,” the team said.
“We will offer our customers expanded global shipping services, superior technology and decades of experience. Monson was the final piece of the puzzle to enable VertomCory become a global player in port agency, and we are grateful for Monson’s and Five V ‘s decision to sell the business back to the shipping industry.”
The executive team said it would keep operating Monson in its current form, retaining the existing leadership team, staff and brand – and personal service and family style reputation – while integrating “innovative systems” to offer customers superior data and service.
Monson Agencies was established by Dale Monson in 1981. The company specialises in bulk shipping and covers ports in Australia, New Zealand, Singapore, China, Malaysia, Thailand, Indonesia, Vietnam, the Philippines, Myanmar, South Korea and Japan.
In March 2021, Five V Capital invested alongside founder Dale Monson to strengthen and expand Monson Agencies’ core offering into new regions and invest in its proprietary agency ERP technology.
In June 2021, Monson expanded into Tasmania, acquiring Monson Shipping, which was the largest provider of port agency services on the island. And earlier this year, Monson acquired NZ-based shipping agency Aranui Shipping.
Justin England of Five V Capital said the transaction made “clear commercial sense given VertomCory’s strong shipping history, alignment of culture, capabilities and dedication to customer experience. The acquisition by VertomCory will establish a key link between the northern and southern hemispheres, enhancing client service and providing incredible opportunities for the staff and clients of Monson Agencies”.
