Warehousing and third-party logistics provider Warehouse Services Inc. (WSI) has acquired Total Logistics Inc. (TLI).
TLI provides final-mile logistics, brokerage and value-added warehousing throughout the Midwest and mid-Atlantic. The Oakdale, Minnesota-based company serves the automotive aftermarket, retail and construction industries, operating high-touch distribution and return networks.
The deal is expected to bring $150 million in revenue to the WSI network in 2022.
Financial terms of the transaction were not disclosed.
“TLI is a very targeted acquisition for us,” said Barry Cox, president of WSI. “The company expands our service offering in the automotive vertical, making us a critical supply chain partner to numerous blue-chip customers. Moreover, the acquisition solidifies our competitive presence in key Midwestern states.”
TLI President Tom Wintz will retain that role.
“There is a strong shared culture of emphasizing the customer, focusing on safety, as well as taking care of our employees,” Wintz said. “In addition, the enhanced scale of WSI’s operations is expected to create revenue and cost savings opportunities which will benefit both organizations.”
Headquartered in Piedmont, South Carolina, privately held WSI provides 3PL and warehouse services throughout the eastern U.S. and Canada, the Midwest, parts of the West Coast, and Texas. The 35-year-old company has more than 4,000 employees operating out of facilities totaling more than 18 million square feet.
Wofford Advisors LLC served as strategic advisor to WSI on the deal and Stephens Inc. was the financial adviser to TLI.
Click for more FreightWaves articles by Todd Maiden.
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