GREENVILLE, S.C., Sept. 28, 2023 - Warehouse Services Inc. (“WSI”), a privately held, women-owned (WBE) nationwide 3PL, offering warehousing, transportation and value-added logistics services, announced it has acquired privately held El Paso, TX based Sky Trans Group Holdings, LLC (“Sky Transportation Services”). Sky Transportation Services is a regional truckload carrier focused 100% on dry-van freight movements principally in the Southwestern US, including cross-border trade between the US and Mexico.
The deal is expected to add over $60 million in annual revenue to WSI in 2023 and will enhance WSI's US to Mexico cross-border capabilities.
"Sky is a great extension of our geographic footprint," said Barry Cox, President of WSI. "The company provides greater density for us in key markets and very importantly it provides a meaningful expansion of capabilities across the border, which will enable us to better meet the needs of our customers. The acquisition also adds depth to our management bench."
"This is a great day for Sky's customers and employees," said Albert Luna, CEO and Founder of Sky Transportation Services, who will remain in the leadership role post-acquisition. "WSI and Sky have very similar cultures – where safety and customer satisfaction are pivotal to our value proposition. The enhanced set of services and scale that WSI provides will rapidly accelerate our strategic objectives."
Wofford Advisors LLC served as WSI's strategic advisor for the deal and Farmer Scott Ozete Robinson & Schmitt, LLP acted as legal counsel. FV Advisory Group served as financial advisor to Sky Transportation Services and Rhoades McKee PC acted as legal advisor.
About Warehouse Services Inc.
Warehouse Services Inc. is a privately held warehouse services and transportation company and third-party logistics provider with corporate headquarters in Piedmont, South Carolina. It has been in business since 1986 and has averaged 16% growth since its inception. The company operates in 19 states and Canada, manages more than 20 million square feet and employs over 4,000 employees.
www.warehouseservices.com
Media Contacts
Caroline Reyes
+1-650-867-3420
creyes@woffordadvisors.com
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Wofford Advisors
