OrderPro Logistics Seeks To Acquire TransMex/USA
October 14, 2002
According to Business Wire, OrderPro Logistics has entered into a letter of intent to acquire TransMex/USA, headquartered at McCook, Ill.
TransMex/USA has annual revenues of about $2 million and provides OrderPro with immediate entry into the strategic NAFTA segment handling shipments originating in Mexico.
For more than 10 years TransMex/USA has been providing customs assistance, daily reporting and bilingual communications to its clients on both sides of the border. TransMex/USA also has trucking authority to operate in Illinois, Wisconsin, Indiana, Michigan and Ohio. The final segment of the company's business is their container yard operation offering storage and drayage services to their client base.
"This acquisition lays the foundation for our expansion in key functional areas of NAFTA and intermodal transportation, while also providing expansion opportunities for our third party logistics program," says Richard L. Windorski, president and CEO of OrderPro Logistics. "In addition, TransMex's Illinois home base greatly improves our strategic position in the Midwest marketplace. The acquisition of TransMex is the model of what we are targeting in our $50 million acquisition rollup."
As part of the purchase agreement, Ray Ascencio, founder of TransMex/USA, will head the expansion of OrderPro's NAFTA Mexican-modal operations, and he will remain with the company for a minimum of three years.