Watco acquires Australia’s Intermodal Group Pty. Ltd.

Watco Companies (Watco) has acquired the majority shareholding in Intermodal Group Pty Ltd (IMG), effective Dec. 22.  

IMG provides services such as rail, integrated logistics of containerized freight and the storage and handling of containers.

Watco CEO Rick Webb says the company’s acquisition of IMG is exciting and that the move aligns well with Watco’s founding principles.

“Our goal is to improve our business by providing quality service and value to our customers,” Webb said.

Representatives say IMG will continue operating independently and will receive oversight from a board consisting of two Watco directors and one IMG director to integrate the companies’ respective strengths in rail knowledge and containerized freight movements and bolster an efficient supply chain for freight movement. Grant Thompson, COO of Watco WA Rail Pty. Ltd., will serve as chairperson of IMG’s board.

“We have long-term views on how we want to grow in Australia and this acquisition fits nicely with our business expansion plans. It adds to our current rail footprint in Australia,” Thompson said. “We look forward to working closely with Jim Stevenson, the current owner, as we have done with CBH Limited, in growing the business for the benefit of our customer base and the State of Western Australia. Watco appreciates that CBH first gave Watco the opportunity to establish a logistics company in Australia.”

Thompson added, “This is a strategic partnership combining both our logistics and supply chain knowledge with IMG and Watco in which we will continue to provide our customers with the right service, at the right time, in the right condition and at the right price. The services that IMG offers will help us meet those requirements for growing customer relationships and provide a base for many new customer relationships.”

Jim Stevenson said the acquisition benefits customers, staff and all stakeholders.

“IMG’s goals are aligned to Watco’s—being customer focused and striving to provide innovative solutions to customer freight requirements in WA. I am excited to be a part of a strong partnership with Watco,” Stevenson said.