TeleServices said that Xcalibur Xpress owner Rick Kelly and his family have more than four generations of experience serving the intermodal industry, with a client base that includes Maersk/Sealand, P&O Nedlloyd, NYK Lines, Wal-Mart, Weyerhauser Paper, Alcoa Aluminum, PPG and Great Lakes Chemical.
For the first six months of 2001, Xcalibur’s management reports that revenues were at an annualized rate of approximately $6.2 million (unaudited), an increase of more than 200% from the prior year. Xcalibur’s management seeks additional capital for expansion, which TIGI must provide as one of the conditions of closing the transaction.
Xcalibur said if it receives a capital infusion over the next quarter for capital equipment and working capital, management projects they would be able to generate 2002 revenues in excess of $40 million, with pre-tax profit margins of 7% to 10%.
Based in Charleston, SC, Xcalibur recently opened new terminals in Atlanta and Savannah, Georgia. Those facilities are expected to help increase revenue by $3 million per year, growing to $5 million over time, the company said.
