Stonepath buying Global Transportation Services

March 6, 2002
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
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.

About the Author

Tim Parry

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!