OHL Acquires Barthco International, Freightek, Inc. and Turbo Logistics:
3PL adds customs brokerage, freight forwarding, transportation and technology services
For Immediate Release
2006-07-06
BRENTWOOD, Tennessee - OHL ("OHL") announced the acquisitions of Barthco International, Freightek, Inc. and Turbo Logistics today. Barthco provides international freight forwarding and customs brokerage, Freightek develops, supports and markets international trade software or broker/forwarder operations and Turbo is a transportation broker and solutions provider.
The companies are known for their excellent customer service and thus have an impressive roster of customers. Company executives cited increased service offerings and end-to-end visibility for customers and prospects as well as a solid cultural fit as benefits of the acquisitions. The newly acquired companies will operate as divisions of OHL and will retain their existing management structures. Barthco has over 700 employees and Turbo currently employs approximately 140 people. OHL expects all current employees to remain with the company.
"Linking the services of these companies adds real value to our customers and allows OHL to offer increased visibility and additional supply chain solutions to the industry," said Scott McWilliams, CEO of OHL. "Each company has customers who need the services of the others. These acquisitions bolster OHL's overall strategy - growth that allows us to offer a broader range of services and to attract and keep great customers."
"We are excited about offering OHL's North American network of distribution centers to our customers," commented Dennis Colgan, CEO of Barthco. "One of the primary reasons these acquisitions are beneficial to our collective customers is the cultural fit between OHL, Barthco and Turbo. At Barthco, details matter� and we know they do at OHL too because they identified some real needs within the industry and among their customers and made these acquisitions to meet those needs."
"The outcome of these acquisitions is a company poised to meet all the supply chain management requirements of an ever-expanding client base," said James K. Syfan, CEO of Turbo. "I have been very impressed with the OHL team they are people of integrity who are passionate about customer service and delivering overall value to their customers."
About Barthco
Barthco International, Inc. is a successor to John H. Faunce Co., Inc., established in 1908 as a customs brokerage and freight forwarding firm. The company provides customs brokerage, international freight forwarding, inbound transportation and cargo management and is an NVOCC. Barthco has expertise in such areas as food, pharmaceuticals, apparel and fine art. The company has 700 employees in 18 offices, including one in Hong Kong, serves approximately 3,000 customers and manages over 700,000 shipments a year.
About Freightek, Inc.
Freightek, Inc. provides software solutions for monitoring and managing international freight activity. The company is also an application service provider for U.S. Customs and Border Protection (U.S. CBP) connectivity. Freightek solutions are used by over 200 CBP brokers, forwarders, importers and exporters.
About Turbo Logistics
Turbo Logistics was founded in 1984 and provides a complete array of services including expedited, intermodal and international transportation. Turbo's 140 employees work with thousands of shippers, manage relationships with nearly 4,000 carriers and handle over 60,000 shipments a year.
