CHERRY HILL, NJ – NFI, one of the country’s most diverse supply chain solutions companies, today announced the acquisition of IPD, a global transportation and logistics company based in Mississauga, Canada, specializing in perishable-based air and ocean transport, intermodal and truck brokerage services.
“This acquisition will allow us to provide our current and new customers with even greater access to reliable and efficient perishable shipping routes across North America. As one of the largest perishable-oriented 3PLs in Canada and a CN wholesaler, IPD has a strong relationship with that country’s national railroad, which will be a great asset to NFI’s Intermodal division.” said Sid Brown, Chief Executive Officer of NFI.
IPD President Rob Rusnov added, “As part of NFI, we will now be able to provide even more customers with the nonstop door-to-door service on which our clients have come to rely, without any breaks in the supply chain. IPD shares NFI’s commitment to excellent performance, strong management and dependable ‘Just in Time’ customer service.”
“IPD’s non-asset based transport services, specializing in inbound and cross-border routes, offers a perfect complement to NFI, with its strengths in outbound transport and dedicated fleets, and its widespread distribution and warehousing network. Our logistics and transportation brokerage services will further enhance NFI’s already wide range of offerings,” said Rusnov. “Now all of our clients and potential clients on both sides of the border will have access to our combined expertise.”
In 2009, IPD’s 2009 annual revenue totaled approximately $50 million. “Through this acquisition and other growth, such as that generated by the expansion of our transborder services with truck and rail, we expect that NFI’s annual revenue for 2010 will reach $900 million,” said Brown.
EVE Partners, LLC, a merchant bank focused exclusively on transportation and logistics, represented IPD in the transaction. Tom Connolly, Managing Director with EVE, said, “The acquisition of IPD by NFI presents a powerful combination that will enhance their competitive position in the marketplace.”
NFI offers a variety of services to help businesses manage, grow and succeed in today’s logistics marketplace. It is a fully integrated supply chain solutions provider, offering logistics, distribution, transportation, intermodal and real estate services across the U.S. Headquartered in Vineland, NJ, the company owns nearly 60 trucking and maintenance facilities nationwide, with over 10,000 tractors & trailers encompassing regional and dedicated fleets. Privately held by one family since its inception in 1932, NFI employs over 5500 individuals, operates over 18 million square feet of contract and public warehouse and distribution space, and generates $810 million in revenue annually. NFI is a partner in the Environmental Protection Agency’s SmartWay program, which is dedicated to increasing energy efficiency and reducing the impact of the freight industry upon the environment. NFI is a one-stop resource for integrated supply chain solutions. For more information visit: www.NFIindustries.com
EVE Partners, LLC is a boutique merchant bank whose practice is focused exclusively on the transportation and logistics industry. With headquarters in Atlanta and offices in Hong Kong, London and New York, EVE is one of the largest dedicated transportation and logistics investment banking practices in the world. They provide global research covering more than 80 countries, all major U.S. companies/sectors and over 500 international companies. EVE’s staff is multi-lingual and has extensive cross-border mergers and acquisitions experience. For more information visit: www.evepartners.com
“This acquisition will allow us to provide our current and new customers with even greater access to reliable and efficient perishable shipping routes across North America. As one of the largest perishable-oriented 3PLs in Canada and a CN wholesaler, IPD has a strong relationship with that country’s national railroad, which will be a great asset to NFI’s Intermodal division.” said Sid Brown, Chief Executive Officer of NFI.
IPD President Rob Rusnov added, “As part of NFI, we will now be able to provide even more customers with the nonstop door-to-door service on which our clients have come to rely, without any breaks in the supply chain. IPD shares NFI’s commitment to excellent performance, strong management and dependable ‘Just in Time’ customer service.”
“IPD’s non-asset based transport services, specializing in inbound and cross-border routes, offers a perfect complement to NFI, with its strengths in outbound transport and dedicated fleets, and its widespread distribution and warehousing network. Our logistics and transportation brokerage services will further enhance NFI’s already wide range of offerings,” said Rusnov. “Now all of our clients and potential clients on both sides of the border will have access to our combined expertise.”
In 2009, IPD’s 2009 annual revenue totaled approximately $50 million. “Through this acquisition and other growth, such as that generated by the expansion of our transborder services with truck and rail, we expect that NFI’s annual revenue for 2010 will reach $900 million,” said Brown.
EVE Partners, LLC, a merchant bank focused exclusively on transportation and logistics, represented IPD in the transaction. Tom Connolly, Managing Director with EVE, said, “The acquisition of IPD by NFI presents a powerful combination that will enhance their competitive position in the marketplace.”
NFI offers a variety of services to help businesses manage, grow and succeed in today’s logistics marketplace. It is a fully integrated supply chain solutions provider, offering logistics, distribution, transportation, intermodal and real estate services across the U.S. Headquartered in Vineland, NJ, the company owns nearly 60 trucking and maintenance facilities nationwide, with over 10,000 tractors & trailers encompassing regional and dedicated fleets. Privately held by one family since its inception in 1932, NFI employs over 5500 individuals, operates over 18 million square feet of contract and public warehouse and distribution space, and generates $810 million in revenue annually. NFI is a partner in the Environmental Protection Agency’s SmartWay program, which is dedicated to increasing energy efficiency and reducing the impact of the freight industry upon the environment. NFI is a one-stop resource for integrated supply chain solutions. For more information visit: www.NFIindustries.com
EVE Partners, LLC is a boutique merchant bank whose practice is focused exclusively on the transportation and logistics industry. With headquarters in Atlanta and offices in Hong Kong, London and New York, EVE is one of the largest dedicated transportation and logistics investment banking practices in the world. They provide global research covering more than 80 countries, all major U.S. companies/sectors and over 500 international companies. EVE’s staff is multi-lingual and has extensive cross-border mergers and acquisitions experience. For more information visit: www.evepartners.com
