St. George Logistics, which is supported by Wind aim Partners, has acquired AZ Corp, a Linden, brand new Jersey-based supplier of container freight section services. Wind aim will likely be merging both STG and AZ. No economic terms were disclosed. NewStar Financial, Sun Life Assurance business of Canada, Webster Financial and Oaktree Capital Management provided the funding for the offer. Silvergrove served as financial agent to AZ in the transaction.
NEWS RELEASE
Chicago, IL, October 17, 2016 – Wind Point Partners revealed these days your keeping business of St. George Logistics (“STG”), North America’s largest supplier of outsourced container cargo place (“CFS”) services and a respected provider of value-added warehousing and distribution solutions, has broadened its leading place in outsourced import/export solutions through the acquisition of AZ Corporation (“AZ”). Wind Point will merge STG and AZ.
Based in Linden, NJ, AZ is North America’s next largest provider of CFS solutions with leading share in export-oriented CFS. AZ also provides relevant services including value-added warehousing, distribution and transportation. Comparable to STG, AZ’s core client base includes the world’s top cargo forwarders, natural NVOCCs, merchants, consumer packed goods organizations and related businesses. AZ providers its diverse clientele from nine interface and inland facilities, with numerous places on harbors of the latest York/New Jersey and Los Angeles/Long Beach including Chicago, Miami, Atlanta and Charleston.
Wind Point obtained STG in July 2016 in partnership with CEO Chris Jamroz and President and Chief Operating Officer Hessel Verhage. Jamroz of late supported due to the fact President & Chief Operating Officer of GardaWorld Cash Logistics, a C$1.1 billion unit of GardaWorld Security Corporation. Just before STG, Verhage had been the President of Global Freight Forwarding at UTi internationally, where he managed a $2.7 billion P&L.
“The acquisition fits completely with our vision of creating North America’s top-quality provider of outsourced import/export and value-added warehouse and circulation offer string services, ” stated Jamroz. “This combo enables united states to give you our consumers with an extensive selection of import and export solutions, best-in-class solution, accessibility the’s fastest and most efficient intermodal transport network, and powerful I . t. This Will Be a substantial exchange not just for STG and AZ but in addition for our customers.”
Konrad Salaber, Principal with Wind Point, commented, “We have become excited to merge STG, North America’s largest import-oriented CFS provider, with AZ, the continent’s largest export-oriented CFS business. With 24 interface and inland facilities totaling approximately four million square feet, a skilled staff of greater than 1, 100 logistics professionals and a national system of greater than 80 lover facilities, the combined company features unmatched scale and abilities in outsourced CFS and a number one position in value added warehousing and associated services.”
“Acquisitions will continue to be a vital growth initiative once we enhance and expand the range of services we offer to our core customers, ” included Verhage. “Our acquisition program will continue to focus on opportunities in ocean and atmosphere CFS, value-added warehousing and distribution, e-commerce satisfaction and related solutions in the large and growing import/export supply chain.”
