The Clark Group, Inc. Acquires Preprint Logistics Management.
LOS ANGELES -- The Clark Group, Inc., a leading non-asset based logistics services provider focused on developing and executing supply chain solutions for the print media industry and a member of The Gores Group of companies, has completed the acquisition of Preprint Logistics Management, one of the nation's leading third party logistics providers serving America's top retailers, commercial printers and direct mailers. Terms of the transaction, which was led by The Gores Small Capitalization Fund Group, were not disclosed.
Headquartered in Bloomfield, CT, Preprint Logistics Management's core business specializes in distribution and transportation services for newspaper circulars and advertising materials. The company specializes in providing comprehensive transportation, distribution and logistical solutions that meet the needs of its customers that include many of the largest and most recognizable retailers in the United States.
"Preprint is a great addition to The Clark Group," said Victor C. Otley, Managing Director for The Gores Group. "We are confident it will expand the Clark Group's service offerings and will create the economic scale critical to meeting the needs of its customers. With Clark as a platform, we are convinced that the acquisition will enable them to continue our strategy of growing the business organically as well as through strategic acquisitions."
"The Preprint team, led by Art Latulippe, has done an exceptional job forging a strong reputation with Preprint's loyal customers by continuing its unrelenting focus on service excellence," stated Skip Fischer, Chief Executive Officer of The Clark Group. Adding Fischer, "We are pleased that he and the dedicated Preprint team will remain with the combined entities and all of us at Clark look forward to collaborating with them to bring state-of-the-art logistics technology and innovative services to both our current and future customers."
Art Latulippe, Chief Executive Officer of Preprint stated, "Clark's operational expertise combined with its network of distribution centers, provide valuable consolidation efficiencies to our existing transportation routes, as well as enhancing the time-critical transportation services that we provide to all regions of North America."
Latulippe added, "The Clark Group has an exceptional history of outstanding customer service with a company-wide culture that puts the service needs of its customers first and a culture shared by all of us at Preprint."
About The Clark Group, Inc.
Over its 30-year history, The Clark Group, Inc. has built a position as the leading independent third party logistics provider of value-added distribution, transportation management, and international air and ocean freight forwarding services to the print media and other highly service sensitive industries. Clark's three unique and complimentary business units, Clark Distribution Systems (CDS), Highway Distribution Systems (HDS) and Clark Worldwide Transportation (CWT), provide customers with a single source supply chain solution. The company operates a network of 8 distribution centers strategically located across the United States to provide consolidation efficiencies and time-critical domestic transportation services to all regions of the country and internationally. Additionally, Clark offers its customers supply chain export and import services to more than 65 countries worldwide and has developed strategic alliances with numerous international agents throughout the world specializing in print media logistics. For more information please visit us at www.clarkgroupinc.com.
About The Gores Group, LLC
The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
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|Comment:||The Clark Group, Inc. Acquires Preprint Logistics Management.|
|Date:||Dec 10, 2012|
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