COSTA MESA, Calif. (August 10, 2009) – NFI, one of America’s leaders in third-party logistics, has acquired Network Logistic Solutions (“NLS”), a logistics and contract warehouse management company.
McGladrey Capital Markets LLC initiated the transaction, led the negotiations and acted as the exclusive financial advisor to NLS. Hunter Maclean Exley & Dunn, P.C. acted as legal counsel to the NLS and Stevens & Lee acted as legal counsel to NFI.
“In the current economic climate, reducing fixed costs by outsourcing logistics and warehousing can be vital,” said Adrian West, vice president in McGladrey Capital Markets’ Basic Industries Group.
“The acquisition of NLS will provide NFI with additional locations in Georgia, Oklahoma and Florida as well as giving NFI the ability to service the account of a Fortune 50 consumer products firm and leverage NLS’ experienced management to drive additional growth,” said West.
Network Logistic Solutions will become part of NFI Distribution, the warehouse and distribution division of NFI. This acquisition will add 516 employees to NFI’s payroll and an additional 3 million square feet to the company’s contract warehouse space for a total of 18 million square feet.
“This acquisition enables NFI to provide the Network Logistics Solutions customer base with access to a vast network of integrated services – a one-stop-shop for supply chain solutions,” said Sid Brown, Chief Executive Officer of NFI. “It also strengthens our network with growing geographic presence in the critical port cities of Jacksonville and Savannah, and by opening a new presence in Oklahoma.”
About NFI
NFI is a fully integrated supply chain solutions provider offering logistics, distribution, transportation, intermodal and real estate services across the U.S. Headquartered in Vineland, NJ, the company owns nearly 60 trucking and maintenance facilities nationwide, with over 10,000 tractors & trailers encompassing Over the Road (OTR) and dedicated fleets. Privately held by one family since its inception in 1932, NFI employs over 5500 individuals, operates over 18 million square feet of contract and public warehouse and distribution space, and generates $800 million in revenue annually. NFI is a partner in the Environmental Protection Agency’s SmartWay program, which is dedicated to increasing energy efficiency and reducing the impact of the freight industry upon the environment. NFI is a one-stop resource for integrated supply chain solutions.
About Network Logistic Solutions
Network Logistic Solutions is a contract warehouse management company headquartered in Savannah, Georgia. NLS provides warehousing services and turnkey solutions to companies interested in consolidating, planning and addressing administrative demands associated with their logistics, warehousing and supply chain.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in 13 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets is also a member of RSM International, a worldwide network of professional services firms. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
CONTACT:
McGladrey Capital Markets LLC
Kelly Osborne, Vice President
714.327.8880
kosborne@mcgladreycm.com