(PRWEB) July 17, 2005
NAL Worldwide LLC today announced the signing of a definitive agreement to acquire the SIRVAÂ® Logistics business assets from North American Van Lines, Inc., a subsidiary of SIRVA, Inc. The SIRVA Logistics business will be renamed NAL Worldwide LLC when the transaction is expected to close by July 31. Lake Capital Partners LP, a private equity firm that invests in and supports growth strategies of service-based businesses, has allocated capital to expand NAL WorldwideÂs presence and capabilities.
While NAL WorldwideÂs name is different, it is not new, and neither is the business it is acquiring. SIRVA Logistics, formerly known as the solutions segment of northAmerican Logistics, and its associates have been providing value-added supply chain services to Fortune 100 and other leading companies since 1988. NAL Worldwide has a deep heritage and will have a strong portfolio of inventory management and value-added services, delivered by an experienced force of more than 600 associates. NAL Worldwide will have its operational headquarters in Fort Wayne, Ind., corporate headquarters in Westmont, Ill., and facilities across the U.S.
SIRVA Logistics has created and executed customized solutions on behalf of its clients to address a wide array of supply chain challenges. Representative solutions include:
-The branding conversion of 10,000 U.S. retail stores to a new brand identity as a result of a sizable merger. The result was the automation of 70 percent of the workflow transactions, saving thousands of manager hours, facilitating timely execution of the conversion and enabling the client to reduce total supply chain cost by 50 percent versus traditional store remodeling processes.
-The design and execution of an inventory in-transit merge program focused on ensuring the on-time delivery of telecommunications equipment and components from multiple vendors to cellular sites across the nation. Today, more than 17,000 sites are handled annually for the telecommunications industry.
-The operational reinvention of a 170-person call center providing emergency high-tech parts location and dispatch. The result was increasing service levels and enabling this technology client to meet 40 percent increased volumes with approximately half the original head count.
ÂWe are proud of our reputation as an innovator in supply chain services with the processes, technology and executional experience that proactively help clients with business-transforming results,Â said Doug Christensen, president of SIRVA Logistics, who will continue as president of NAL Worldwide. ÂWeÂre looking forward to Lake CapitalÂs financial and operational support as we expand and enhance our ability to create customized solutions for our clientsÂ complex supply chain needs.Â
NAL Worldwide is backed by Lake Capital, a Chicago-based private equity firm. ÂWe are excited about working with the NAL Worldwide team to build on their heritage of great client service. Lake Capital partners with strong management teams dedicated to providing the highest level of client service through delivering high value and differentiated offerings. NAL Worldwide, through its 600 associates, has a proven track record of successfully serving clients,Â said Paul Yovovich, president of Lake Capital.
SIRVA Logistics is the leader in managing complex, multi-site, variable inventory supply chains and creating new opportunities for inventory reduction. Since 1988, they have been selected by industry leaders in the technology, telecommunications and retail industries, utilizing an infrastructure of 29 facilities combined with a unique inventory management and supply chain technology, to enhance their clientsÂ supply chain effectiveness and efficiency. For more information on SIRVA Logistics and NAL Worldwide, visit http://www.nalworldwide.com, or contact us at (800) 316-6860.
About Lake Capital
Lake Capital is a Chicago-based private equity firm that focuses on investments in service-based enterprises across various industries. The firm is currently managing a $500 million fund and typically seeks to invest $50-$75 million of equity in each of its portfolio initiatives to help build leading services companies through organic and acquisition-enhanced growth. More information about Lake Capital is available at http://www.lakecapital.com.