Target Logistics, Inc., a domestic and international freight forwarder and logistics provider, today announced that its wholly owned subsidiary Target Logistics Services, Inc., has acquired certain assets of Capitaland Express, Inc., a freight forwarder based in Albany, New York, which provides a full range of services to the upstate New York area.
Capitaland Express had over $10 million of revenue in its fiscal year ended April 30, 2006. Terms of the acquisition were not disclosed.
Capitaland Express was founded in 1988 by Thomas Valentine, who will stay on and continue to oversee operations at the Albany station for TLSI. Capitaland was represented by Herron & Associates LLC in transaction negotiations with Target.
“This acquisition provided an excellent opportunity for Target to have a seasoned professional lead a group of veteran employees in a solid market,” Stuart Hettleman, Chief Executive Officer of Target Logistics said. “We welcome Tom and all of Capitaland Express into the Target family, and believe their history of success will continue and be enhanced under the Target umbrella.”
“Joining Target Logistics presented an outstanding solution for Capitaland Express to provide the advanced IT benefits that the market requires and for which Target is known,” said Thomas Valentine, president of Capitaland. “In addition, the acquisition allows Capitaland to remain-as it has for over eighteen years-- a valued partner with its customers.”
Target Logistics, Inc. provides domestic and international time definite freight forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services, Inc. Target has a network of offices in 35 cities throughout the United States and a worldwide agent network with coverage in over 70 countries. Its freight forwarding services include arranging for the total transport of customers' freight, including providing door to door service, distributions and reverse logistics.