Waterman today announced that it had completed an investment for an initial 20% shareholding in Gluck Pty Limited ("Gluck"), in conjunction with private equity manager Direct Capital.

The balance of the shareholding is to be retained by Gluck's existing executive shareholders Mark Kellett and Brendan Moloney who will continue to manage the company. Waterman and Direct Capital have an option to provide additional capital to the company to support anticipated growth initiatives.

Gluck is one of Australia's larger privately owned supply chain services companies, employing over 150 people throughout Australasia. Its primary sites are Melbourne and Sydney, with a significant operation recently established in Auckland.

Gluck's range of services includes air and sea freight, freight optimisation, custom clearance, local 3PL and general shipping and freight management services on all major international trade lanes to and from Australia and New Zealand.

For further information on Gluck visit www.gluck.com.au

Or contact

Matt Riley or Chris Marshall
Directors
Waterman Holdings Limited
+64 9 362 0522