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.
