• Fri. Sep 22nd, 2023


   Ocean Workforce percent, the dad or mum corporate of British logistics company MSAS
International Logistics, has expanded its North American community through agreeing to
purchase Mark VII Inc., the Memphis-based intermodal advertising corporate.
   Ocean Workforce will receive all remarkable stocks of Mark VII commonplace inventory
for $23 in keeping with percentage, for a complete price of $227 million.
   Mark VII, which additionally supplies truck brokerage and logistics products and services,
employs just about 400 folks and serves greater than 7,000 shoppers with annual gross sales of about
$725 million, MSAS stated.
   “The present Mark VII infrastructure will stay unchanged and run
along our global, home and model logistics companies,”
stated Michael “Mick” Fountain, leader government officer of MSAS International
Logistics, Americas/Pacific.
   “We imagine that becoming a member of forces with Ocean Workforce is in the most productive
pursuits of our shoppers, our stockholders and our workers,” stated R.C.
Matney, chairman of Mark VII. “For stockholders, this transaction …
represents a top rate of 30 % over the final value of Mark VII
the previous day (Monday).”
   Matney will stay with the brand new corporate a minimum of thru 2002, Fountain
stated. “His control workforce will proceed to run the trade.”
   The purchase will building up MSAS’s gross sales in North The united states towards  $1.5
billion a 12 months.
   MSAS has additionally has additionally got Skyking Freight Services and products and A.W. Fenton
since past due ultimate 12 months.

Supply Through https://www.freightwaves.com/information/msas-to-acquire-mark-vii