Global completes purchase of Clark Group

Global completes purchase of Clark Group Global Logistics Acquisition Corp. of New York said it has completed acquisition of The Clark Group Inc., a 30-year-old company that specializes in providing logistics for magazines and the print industry.
   Global Logistics was formed in 2006 and raised $88 million in the public markets for the purpose of acquiring privately held transportation and logistics companies. It announced the proposed purchase of Clark last year.
   With completion of the deal, Global Logistics is changing its name to Clark Holdings Inc. and will initially trade under the ticker symbol GLA.
   Tim Teagan, Clark's president and chief executive officer, said the company would “begin exercising on our multipronged growth strategy that includes expanding our geographic footprint and customer base, entering new industry verticals, and creating additional service offerings.”
   Greg Burns, chairman of Clark Holdings’ Capital & Acquisition Committee and former chief executive officer of GLAC, said Clark’s “non-asset-based business model, strong balance sheet, flexible corporate structure and seasoned management team is uniquely positioned to take advantage of the growing market for logistics services.”