VertomCory Acquires Monson Agencies to Expand Global Reach
Date Posted: 19 May, 2023
Anglo Dutch logistics and shipping agency group VertomCory Group, announced today the acquisition of Monson Agencies from Five V Capital, creating a market leading shipping agency group. The acquisition of Monson Agencies will accelerate VertomCory’s strategy of international expansion.
Established in 1981, Monson Agencies is Australia’s leading technology-enabled shipping agency. The company specialises in dry and wet-bulk commodities, servicing some of the world’s largest industrial producers and traders and covering some of the fastest growing bulk export and import markets in the world. This includes Australia, New Zealand, Singapore, China, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Myanmar, South Korea, and Japan.
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. Through the purchase, VertomCory 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.
The Executive Team of VertomCory said the deal established VertomCory 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. 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.
“Our priority is to 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. We applaud the significant contribution of Monson’s management team in extending its reach into Singapore and Asia more broadly.”
Justin England, 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.”
Rob Davis, Chief Executive Officer of Monson, also 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. 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. “Our clients will be delighted too, and they will continue to enjoy high-quality service and also gain access to a wider set of expertise, capabilities and geographic coverage that VertomCory brings”.
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.”
VertomCory was advised by Equion Capital, Allens, Grant Thornton and EY. Equion Capital has been retained to continue to assist VertomCory with strategic geographical, service and asset-based acquisition opportunities supporting the growth strategy of the business.
Monson Agencies was advised by E&P Corporate Advisory, Gilbert + Tobin, WongPartnership, PwC and EY-Port Jackson Partners.