The Board of Directors of Secure Logistic Group Limited (PSX: SLGL) and Trax Online (Pvt.) Limited (TRAX) have agreed to merge their businesses, with TRAX shareholders set to become stakeholders in SLGL. The combined entity will be owned and operated under the Secure Logistic Group, marking a major consolidation in the logistics industry.
The merger will be carried out through a Scheme of Arrangement under the provisions of Sections 279-282 of the Companies Act 2017, subject to approval from the respective shareholders of SLGL and TRAX, and sanction by a competent High Court. The transaction also requires requisite regulatory approvals. The parties aim to finalize the merger by December 31, 2024.
Both companies have signed a Term Sheet, outlining the key terms and conditions, which will form the basis for definitive agreements. This will lead to the preparation of the Scheme of Arrangement, which will be submitted for court approval.
The merger is expected to transform the newly formed company into a leading player in the 4PL logistics sector, combining SLGL’s commercial assets with TRAX’s advanced technology platform. The integration will not only reduce overlapping fixed and variable costs but also offer a range of synergies that are set to maximize both top-line and bottom-line growth.
The merged entity will serve over 300 corporate clients and thousands of small and medium enterprises (SMEs) across multiple business lines. The combination of SLGL’s 14-year experience in long-haul logistics, asset tracking, and security services with TRAX’s tech-driven solutions in last mile, retail, bulk logistics, banking, international shipping, warehousing, and fulfilment is expected to deliver comprehensive end-to-end logistics services.
Secure Logistic Group Limited is a longstanding player in long-haul distribution, asset tracking (IoT), and security services, while Trax Online is recognized as a leader in tech-enabled supply chain solutions, offering a robust platform for B2B logistics, including payments and deliveries.
The merger is poised to redefine the logistics landscape, positioning the combined entity as a dominant force in Pakistan’s fast-evolving logistics industry.
