Swiss private equity firm Partners Group has sold its 24.9 per cent stake in Chinese air freight provider Apex Logistics to majority shareholder Kuhne+Nagel, reported Swiss Finews.

The transaction, announced Thursday, values Apex at over US$4 billion. Partners Group exercised its option to sell, exiting the investment it made in 2021. The deal is expected to close later this year.

The buyback was executed at the 886 million franc obligation listed in the balance sheet and will be financed through available funds and credit lines, according to the statement.

Kuhne+Nagel acquired Apex in 2021 for 1.1 billion francs, bringing in Partners Group as a minority investor. Since then, Apex has grown significantly, with EBITDA rising 151 per cent over five years.

The two firms collaborated to transform Apex into a global logistics platform, focusing on technology upgrades, expanded charter capacity and enhanced service for global key accounts.

Apex now operates 48 locations worldwide, serving over 20,000 customers in more than 70 countries. In 2024, it handled 420,000 tonnes of air freight and 300,000 TEU of ocean freight.