Velox completes acquisition of 98 percent stake in US logistics firm ILA for USD 447,860
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Velox Shipping and Logistics has paid the full USD 447,860 consideration to acquire a 98 percent stake in International Logistics Associates LLC (ILA), a US-based freight contracting and shipping agency firm. The deal was completed on July 20, 2026, with an effective date of January 23, 2026. ILA reported turnover of USD 3.22 million and a loss of USD 62,596 in FY26, with turnover of USD 2.78 million in FY25 and USD 4.23 million in FY24. The acquisition is a cash deal, not a related party transaction, aimed at expanding Velox into international logistics markets.
Gives Velox entry into US freight market. ILA posted a loss in FY26, so near-term earnings drag is possible; long-term play on international expansion.