Company type | Public |
---|---|
DFM: ARMX | |
Industry | courier, freight forwarding, express logistics |
Founded | 1982 in Jordan |
Founder | Bill Kingson Fadi Ghandour |
Headquarters | Dubai, United Arab Emirates |
Key people | Othman Aljeda (CEO) |
Services | Express Logistics, Domestic Express, Freight Forwarding, Logistics, Shop & Ship, Warehousing, Customs Clearance |
Revenue | US$1.652 billion [1] (2021) |
US$83.22 million (2021) | |
US$62.1 million (2021) | |
Total assets | US$1.47 billion (2021) |
Total equity | US$728.54 million (2021) |
Number of employees | 16,359 (2021) |
Website | www |
Aramex is an Emirati multinational logistics, courier and package delivery company based in Dubai, United Arab Emirates. [2] The company was founded by Fadi Ghandour and Bill Kingson in 1982 in Amman, Jordan. [2] [3] [4] It is the first Arab-based company to be listed on the NASDAQ stock exchange. [2] [5] [6] Aramex is listed on the Dubai Financial Market. [6] [7] Othman Aljeda is CEO of the company. [8] Aramex has approximately 18,000 employees in 70 countries. [6]
Thomas Friedman profiled the company in his book, The World Is Flat . [2] [9]
Fadi Ghandour co-founded Aramex shortly after receiving his BA in political science from George Washington University, with his business partner, Bill Kingson in 1982. [2] [3] [5] [6] Kingson, a friend of Ghandour's father and owner of a small courier company in the New York tri-state area, discussed the business with Fadi Ghandour after he had expressed interest in the business. [2] [5] After their discussion, Kingson proposed a partnership to establish a courier business in the Middle East with Ghandour. [2]
The company began operations in Amman, Jordan. [2] [3] [5] Arab American Express aimed to become the first courier company in the Middle East. [2] At the time there were no international courier companies based in the region because of logistical and bureaucratic challenges caused by civil wars and complex political relationships. [2] [3] [5] The company's first international delivery was a document for the Housing Bank for Trade and Finance based in Jordan to New York City. [2] Within two years, the company's name was shortened to Aramex. [3]
In 1984, the company's operations were less than US$1 million in revenue. [3] That year, Aramex offered Airborne Express 50% ownership of the company for US$100,000 [3] but Airborne Express declined the offer because it did not have the resources to invest in a small market such as the Middle East. [3] The partnership made Aramex responsible for Airborne's business in the region. [3] Aramex moved its headquarters to Dubai, United Arab Emirates in 1985. [2]
Aramex gained Federal Express as a client in 1987. [2] [3] In the first year of the partnership, 30% of Aramex's revenue came from packages originating from the Federal Express network. [2] Airborne Express acquired 9% of Aramex for US$2 million. [2] Aramex was listed on the NASDAQ stock exchange in January 1997. [5] [7] The company became the first Arab-based company to trade its shares on an American stock exchange. [2] [5] Aramex's valuation was US$24 million and the IPO raised US$7 million. [2] The company accrued US$66 million in revenue. [2]
The company expanded its operations to 120 locations in 33 countries, primarily emerging markets in the Middle East and Southeast Asia by 2001. [2] The company's strategy was to enter high-growth markets characterized by high populations and liberalizing economies. [2] During summer 2001, Abraaj Capital, the first private equity firm in the Middle East, proposed Aramex a leveraged buyout offer that would take the company off of the NASDAQ stock exchange. [2] [6] [7] The deal was accepted and Abraaj Capital acquired the majority of Aramex for US$65 million in February 2002. [2] The deal allowed Kingson and Airborne to exit, while Ghandour retained 25% of the company and management control. [2] Abraaj acquired 75% of Aramex and made 6% of its shares available to company employees in the form of stock. [2] Between 2002 and 2003 Aramex's net income rose from US$4 million to US$10 million. [2]
In 2003, DHL acquired Airborne Express, Aramex's main United States partner. This resulted in Airborne Express exiting the Airborne Alliance. In the same year, Aramex took over the alliance and co-founded the Global Distribution Alliance (GDA), a global alliance of 40 express companies with combined revenues of US$7.5 billion. Aramex is chairing the alliance which uses a shipment management system developed by the company. [10] [11] [12]
Aramex went public on the Dubai Financial Market in February 2005. [2] [6] [7] The IPO raised US$270 million. [2] The company's revenue increased 23% over 2004 and net income increased 56% that year. [2]
As part of its expansion plans, Aramex concluded a series of acquisitions, including Priority Airfreight, InfoFort, [13] Freight Professionals and TwoWay-Vanguard. [14] [15] [16]
World-renowned writer and columnist Thomas Friedman used Aramex in his book, The World Is Flat , as an example of companies that benefit from what he calls "the flattening of the world." [2] [6] [9] [17] The flattening of the world is the leveling of the economic field and the destruction of "barriers to entry" to collaborate or compete globally. [17] [18] [19]
In February 2011, Aramex acquired OneWorld Courier and In-Time Couriers, two Kenyan courier firms. [20] Aramex acquired Berco Express, a South African logistics firm in December 2011. [21] PayPal partnered with Aramex in 2012. [22] The partnership gave PayPal credibility in the Middle East while opening up new markets abroad for Aramex. [22] Aramex developed REDe, a solution aimed at enabling companies to begin selling their products online, in early 2012. [23] ShopGo, an e-commerce solution, released Aramex Suite in August 2013. [24] The module enabled e-commerce stores to automatically access several of Aramex's services. [24]
Aramex launched Aramex Bio, a medical courier service, in March 2014. [25] The service was launched in the Middle East and North Africa. [25] In June 2014, Aramex acquired Mail Call Couriers, an Australian courier service, which at the end of 2016 was acquired by Australia Post. [26] [27] In January 2016, Fastway Couriers, a New Zealand-based courier service with operations in New Zealand, Australia, South Africa and Ireland, announced that Aramex had acquired its New Zealand and Australian operations. [28] In 2019, Aramex acquired Saudi Tal for Commerce and Contract Company to expand its operations in Saudi Arabia. [29]
In October 2021, GeoPost, the express parcel arm of French Groupe La Poste, acquired a 20.15% stake in Aramex. [30]
The company supported the Ruwwad Al Tanmeya initiative in 2006. The initiative aimed to involve the private sector in spurring community development through youth empowerment and investments in the community through education, civic engagement, and volunteering. [31] Aramex has a twenty percent stake in Ruwwad Al Tanmeya. [32]
Aramex became the first company in the region to release an annual sustainability report in 2006. [6] [9] The company joined the United Nations Global Compact, the world's largest global corporate citizenship initiative, in 2007. [9]
Hapag-Lloyd AG is a German international shipping and container transportation company, the 4th biggest in the world. It was formed in 1970 through a merger of Hamburg-American Line (HAPAG) and Norddeutscher Lloyd.
DHL is a German logistics company providing courier, package delivery and express mail service, delivering over 1.7 billion parcels per year. A subsidiary of the German logistics firm DHL Group, its express mail service DHL Express is one of the market leaders for parcel services in Europe and Germany's main courier and parcel service.
Deutsche Post AG, trading as DHL Group, is a German multinational package delivery and supply chain management company headquartered in Bonn, Germany. It is one of the world's largest courier companies. The postal division, Deutsche Post, delivers 61 million letters each day in Germany, making it Europe's largest such company. The parcel division DHL is a wholly owned subsidiary claimed to be present in over 220 countries and territories. DHL Group was the largest logistics company worldwide in 2022.
A courier is a person or organization that delivers a message, package or letter from one place or person to another place or person. Typically, a courier provides their courier service on a commercial contract basis; however, some couriers are government or state agency employees.
Toll Group operates a logistics and global freight forwarding network spanning 150 countries, with over 20,000 customers. Toll has more than 16,000 team members across 500 sites.
DP World is an Emirati multinational logistics company based in Dubai, United Arab Emirates. It specialises in cargo logistics, port terminal operations, maritime services and free trade zones. Formed in 2005 by the merger of Dubai Ports Authority and Dubai Ports International, DP World handles 70 million containers that are brought in by around 70,000 vessels annually. This equates to roughly 10% of global container traffic accounted for by their 82 marine and inland terminals present in over 40 countries. Until 2016, DP World was primarily a global port operator, and since then, it has acquired other companies up and down the value chain.
Yahoo! Maktoob was an online services company founded in Amman (Jordan). Maktoob.com was known as the first Arabic–English email service provider. In 2009, Yahoo! acquired Maktoob.com, making it Yahoo!'s official arm in the MENA region. As of January 31 2023, Yahoo! Maktoob has been shut down; and therefore no longer publishes content.
EFG Hermes Holding S.A.E. is an Egyptian financial services company present in the Middle East, North Africa, Sub-Saharan Africa, and South Asia regions and specializes in securities brokerage, asset management, investment banking, private equity and research in addition to finance lease, factoring, microfinance, Financial technology, mortgage, and insurance. EFG Hermes serves a range of clients including sovereign wealth funds, endowments, corporations, financial institutions, high-net-worth clients and individual customers. EFG Hermes is listed on the Egyptian Exchange (EGX) and London (LSE) stock exchanges. EFG Hermes has offices in Egypt, the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Pakistan, Oman, Kuwait, Jordan, Kenya, Nigeria, UK, United States and Bangladesh with over 4,500 people from 25 nationalities. They serve clients from the Middle East, North Africa, Europe and the United States. Currently, EFG Holding is listed as number 13 in Forbes' Top 50 Listed Companies in Egypt 2023.
Arif Masood Naqvi is a Pakistani-Kittian businessman, who was the founder and chief executive of the Dubai-based private equity firm, The Abraaj Group and Aman Foundation. The Abraaj Group was founded in 2002 and operated in Africa, Asia, Latin America, Middle East, Turkey and Central Asia, and is currently in liquidation due to accusations of fraud.
The Abraaj Group was a private equity firm operating in six continents that is currently in liquidation due to accusations of fraud. The firm was founded by Pakistani businessman Arif Naqvi and was based in Dubai, United Arab Emirates.
Actis is a global investment firm focused on the private equity, energy, infrastructure, and real estate asset classes.
Fastway Couriers is a courier delivery services company founded in Napier, New Zealand. At the peak of its' service, Fastway operated delivery services in New Zealand, Australia, Ireland and South Africa. The company currently operates in Ireland and South Africa.
Samena Capital is an Asia, India and MENA-focused alternative investments group, co-established in 2008 by Shirish Saraf and key partners from a cross section of industries and regions. This name was chosen due to the markets that Samena invests in. These are the Indian Subcontinent, Asia, Middle East and North Africa – a region collectively known as SAMENA. Also in ancient Buddhist script, Samena means "together" or "collective", which reflects the collective investment model the company is based on. The company and its subsidiaries employ 26 people in 3 locations worldwide, and has 48 shareholders.
Shirish Saraf is the Founder, Vice Chairman and member of the Compensation Committee of Samena Capital. He is also the Investment Manager and Director of the Samena Special Situations Funds and Samena Limestone Holdings.
The Entertainer is a publisher of buy one get one free offers for restaurants, leisure attractions, spas, hotel accommodation and more across the Middle East, Asia, Africa and Europe. It was founded in 2001 in Dubai by Donna Benton.
Crescent Enterprises is a multinational company headquartered in the Emirate of Sharjah, United Arab Emirates. The company operates through four platforms: CE-Operates, CE-Invests, CE-Ventures, and CE-Creates, across sectors that include ports and logistics, food and beverages, and business aviation, as well as across business verticals, such as private equity, venture capital, and business incubation.
SHUAA Capital psc is an asset management and investment banking platform.
Careem is a Dubai-based super app with operations in over 100 cities, covering 12 countries across the Middle East, Africa, and South Asia regions. The company, which was valued at over US$2 billion in 2018, became a wholly-owned subsidiary of Uber after being acquired for $3.1 billion in January 2020. Careem expanded into the food delivery business with Careem Now in November 2018 and launched a digital payment platform, Careem Pay in April 2022. In April 2023, Careem's Super App business was spun out into a new legal entity, which e& acquired a 50.03% stake in, while Uber maintains full ownership of Careem's ride-hailing business.
Fadi Ghandour is a Lebanese Jordanian entrepreneur, investor, and philanthropist. He is the Executive Chairman of Wamda, a platform that builds and invests in entrepreneurship ecosystems across the Middle East and North Africa, Turkey and East Africa through Ecosystem Development programs and a venture capital fund investing in technology-enabled companies that operate in these markets.
Jamalon was an online book retailer based in Amman that ships to readers throughout the Middle East. It was founded in October 2010 by entrepreneur Ala' Alsallal with the support of Fadi Ghandour.