An Affiliate of Sun Capital Partners, Inc. Acquires Jevic Transportation, Inc., a Hybrid Truckload and Less-Than-Truckload Carr
July 05 2006 - 10:30AM
PR Newswire (US)
BOCA RATON, Fla., July 5 /PRNewswire/ -- Sun Capital Partners, Inc.
("Sun Capital"), a leading private investment firm specializing in
leveraged buyouts and investments in market-leading companies,
today announced that one of its affiliates has acquired Jevic
Transportation, Inc. ("Jevic"), an operating subsidiary of SCS
Transportation, Inc. (NASDAQ:SCST), a leading provider of
transportation and supply chain solutions, servicing a broad base
of customers across North America. Terms of the acquisition were
not disclosed. Jevic, headquartered in Delanco, New Jersey, offers
specialized less-than- truckload ("LTL") transportation services
and selected truckload ("TL") and time-definite services from ten
service centers with delivery capability throughout the contiguous
48 states and Canada. Founded in 1981, Jevic develops integrated
customer solutions, including direct-to-customer deliveries,
multi-shipper order consolidation for inbound supplies, and express
and time-definite deliveries. Designed to lower overall supply
chain costs, Jevic's one-stop shopping focuses on loads between
1,000 to 30,000 pounds (overlapping both the LTL and TL markets)
and provides customers with an alternative to traditional LTL and
TL carriers that may have strict load requirements. By eliminating
multiple transfers and the likelihood of damage through excessive
handling, Jevic provides a cost-efficient alternative. In addition,
Jevic's time-definite service guarantees the delivery of products
by a specific time (24 x 7), whether the delivery falls within the
business day or not. For chemical and related sectors, freeze
protection is very important for product integrity. Approximately
50% of Jevic's trailers are heated and all of Jevic's drivers are
qualified to transport hazardous materials. Jason H. Neimark,
Managing Director, Sun Capital Partners, Inc., stated, "We are
excited about our investment in Jevic Transportation and look
forward to working with its management team and dedicated employees
in their continued efforts to support their loyal customers." Dave
Gorman, President and CEO of Jevic Transportation, Inc., added, "In
the past, our team has been passionately focused on our business as
part of a very fine larger corporation. We believe that by
operating as a stand-alone company, together with the world-class
operating and financial expertise of Sun Capital Partners, Inc., we
will be well positioned to capitalize fully on a wide range of new
growth opportunities. "Today, I am proud and heartened to say,
'Jevic is a privately-held company focused solely on the needs of
our customers. We are truly excited about our future and the
opportunities in front of us.' " About Jevic Transportation, Inc.
Jevic Transportation, Inc. is a less-than-truckload transportation
services provider that has carved a distinctive position in the
marketplace due to its exclusive Breakbulk-Free(R) operating model.
Jevic provides an appealing alternative to the major LTL carriers
and is superior to most niche carriers in size and scale. Jevic
provides product depth and customization with services such as The
Heat Fleet(R); Jevic 100% Guaranteed Service(R); Partial Trailer
Load Service, and multi-regional and national capabilities in one
system. In addition, without the multiple handling associated with
other traditional Breakbulk or "hub-and-spoke" carriers, Jevic
provides an industry leading, low claim ratio, creating more
efficiencies in its customers' supply chain. About SCS
Transportation, Inc. SCS Transportation, Inc. is a holding company.
Its principal asset is Saia, a multi-region LTL carrier based in
Duluth, Ga. with approximately 7,100 employees nationwide. Saia
focuses on regional and interregional less-than- truckload and
selected truckload and time-definite services. For more
information, please visit the Company's websites:
http://www.scstransportation.com/ and http://www.saia.com/ . About
Sun Capital Partners, Inc. Sun Capital Partners, Inc. is a leading
private investment firm focused on leveraged buyouts, equity, debt,
and other investments in market-leading companies that can benefit
from its in-house operating professionals and experience. Sun
Capital affiliates have invested in and managed more than 120
companies worldwide with combined sales in excess of $30.0 billion
since Sun Capital's inception in 1995. Sun Capital has offices in
Boca Raton, Los Angeles, New York, London, and Shenzhen.
DATASOURCE: Sun Capital Partners, Inc. CONTACT: Aaron P. Wolfe,
Vice President, Sun Capital Partners, Inc., +1-561-394-0550 Web
site: http://www.suncappart.com/ http://www.scstransportation.com/
http://www.saia.com/
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