Merger of air cargo container station service providers
17 / 10 / 2016
Air cargo container freight station service provider St George Logistics has swooped on rival AZ Corporation.
The combination of St George Logistics, which claims to be North America’s largest provider of outsourced container freight station services, and the AZ Corporation will create a single company with 24 port and inland facilities totalling more than 4m sq ft.
The two companies also provide warehousing and distribution services.
Chris Jamroz, who most recently served as the president and chief operating officer of GardaWorld Cash Logistics, has been appointed as chief executive of the merged entity.
“The acquisition fits perfectly with our vision of building North America’s premier provider of outsourced import/export and value-added warehouse and distribution supply chain services,” said Jamroz.
“This combination will allow us to provide our customers with a comprehensive menu of import and export solutions, best-in-class service, access to the industry’s fastest and most efficient intermodal transportation network, and robust information technology.
“This is a significant transaction not only for STG and AZ but also for our customer base.”
Financing for the transaction was provided by NewStar Financial, Sun Life Assurance Company of Canada, Webster Financial, and Oaktree Capital Management.