NAL Worldwide LLC, an affiliate of Lake Capital Partners LP, announced today that it had completed its acquisition of the SIRVA Logistics business assets from North American Van Lines, Inc., a subsidiary of SIRVA, Inc. (NYSE: SIR).
Westmont, Ill. (PRWEB) August 13, 2005 -- While NAL Worldwide’s name is
different, it is not new, and neither is the business it is acquiring. SIRVA
Logistics, formerly known as the solutions segment of northAmerican Logistics,
has been providing value-added supply chain services to Fortune 100 and other
leading companies since 1988. NAL Worldwide has a deep heritage and will have a
strong portfolio of inventory management and value-added services, delivered by
an experienced force of more than 700 associates through 29 facilities. NAL
Worldwide will have its operational headquarters in Fort Wayne, Indiana,
corporate headquarters in Westmont, Illinois, and facilities across the U.S.
“We are extremely pleased to embark on our partnership with the NAL Worldwide team,” said Ted Kovas, director of Lake Capital. “In an increasingly global and competitive world, an efficient and effective supply chain can be a true competitive advantage. NAL Worldwide has a proven track record of successfully serving clients. We look forward to partnering with the team to provide clients even more comprehensive solutions over broader geographies.”
NAL Worldwide is backed by Lake Capital, a Chicago-based private equity firm with more than $1.3 billion of capital under management. The NAL team and Lake Capital seek to expand the scope of services and broaden the geography of NAL Worldwide, through both organic and acquisition-enhanced means. Lake Capital invests in and supports growth strategies of service-based businesses and has allocated capital, in addition to its initial investment, to expand NAL Worldwide’s presence and capabilities.
NAL Worldwide’s team of 700 associates is led by industry veterans Douglas E. Christensen, President; Victor Kaminski, Senior Vice President, Operations; Anne Puhalovich, Vice President, Supply Chain Engineering; Joseph Jenio, Vice President, Logistics Center Operations; Anthony Pellegrino, Vice President, Finance.
"NAL Worldwide's experienced team and sole focus on customized, third-party supply chain solutions, and the capital and financial and operational expertise brought by Lake Capital, give us a tremendous opportunity to build a leading provider," said Doug Christensen, president of NAL Worldwide. "Everyone on our team looks forward to helping clients leverage their supply chains into competitive advantages."
Since 1988, leading companies in the technology, telecommunications and retail industries have turned to NAL Worldwide, formerly known as SIRVA Logistics, and its infrastructure of 29 facilities combined with a unique inventory management and supply chain technology, to enhance their supply chain effectiveness and efficiency. For more information on NAL Worldwide, visit www.nalworldwide.com or contact us at (630) 570-8900.
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Source : http://www.prweb.com/releases/2005/8/prweb272183.htm