Stonepath buying Global Transportation Services

Stonepath Group announced today that it has agreed to acquire Global Transportation Services Inc., a privately held logistics company. The purchase price is $5 million in cash at closing, plus up to an additional $7 million in purchase consideration payable over a five-year earn-out arrangement based upon the future financial performance of Global. The acquisition establishes Stonepath Group's international

Tim Parry

March 6, 2002

Add Us On Google

Stonepath Group announced today that it has agreed to acquire Global Transportation Services Inc., a privately held logistics company.

The purchase price is $5 million in cash at closing, plus up to an additional $7 million in purchase consideration payable over a five-year earn-out arrangement based upon the future financial performance of Global.

The acquisition establishes Stonepath Group's international platform and positions the company as a true global provider of technology-forward integrated logistics services, company chairman & CEO Dennis Pelino said.