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Private Equity Firm Takes Majority Stake in Sayari
January 17, 2024 |Trade Business

Private equity firm TPG acquired a majority stake in Sayari, it said in a news release Jan. 16. The agreement between the companies allows TPG “to make an up to $228 million strategic majority investment in Sayari,” the release said. “Sayari’s founders, employees, and existing investors will retain a significant stake in the company.” Sayari recently won government contracts for services to support anti-forced labor efforts by CBP and the Labor Department (see 2401050051).

Topics:Forced Labor
Chamber of Commerce Complains of Both WH and Congressional Inaction on Trade
January 11, 2024 by Mara Lee|Trade Business

U.S. Chamber of Commerce CEO Suzanne Clark criticized the Biden administration for not only choosing to avoid tariff liberalizing trade negotiations, but also for walking away from long-time positions on digital trade provisions. Clark, who was speaking at a press conference after the Chamber's annual State of American Business event, declined to say whether a second Donald Trump administration or another term of Joe Biden would be worse on trade.

Topics:Section 301 tariffs, Customs duty, Generalized System of Preferences (GSP), African Growth and Opportunity Act (AGOA), Trump tariffs
Alba Wheels Up Acquires John A. Steer
January 9, 2024 |Trade Business

Alba Wheels Up International acquired customs broker John A. Steer, Alba said in a news release Jan. 9. The acquisition will “broaden the companies’ geographic reach” and fortify “Alba’s position as a dominant force in the customs brokerage, freight forwarding, and related industries with significant regulatory and logistics expertise across a handful of end markets,” the release said. The terms of the deal were not disclosed.

Topics:Customs Broker