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US Logistics, Inc. Joins Forces with Ranger Aerospace and CAV International

Dépèche transmise le 6 octobre 2009 par Business Wire

US Logistics, Inc. Joins Forces with Ranger Aerospace and CAV International

FAYETTEVILLE, N.C.--(BUSINESS WIRE)--US Logistics, Inc., a US government outsourcing contractor specialized in aircraft technical services, tactical vehicle overhauls and repairs, technical staffing, and base logistics, has combined with Ranger Aerospace and CAV International for additional capital strength and management resources to support its continuing growth. Ranger's newest private equity investment platform is called Ranger International Services Group, Inc., which acquired a majority stake in US Logistics in August of 2009.

US Logistics has enjoyed rapid growth in the past several years, and has prospects for continued expansion. Ranger Aerospace is a private equity consolidator specialized in the aerospace/defense industry. CAV International (another Ranger International subsidiary) is a government services contractor specialized in airfield operations and base logistics. Additional growth investments and acquisitions are planned for this latest Ranger build-up. US Logistics decided to take on new investors and management partners in order to keep pace with anticipated market growth.

US Logistics’ six divisions provide a variety of support services including the maintenance and modification of tactical vehicles, aircraft maintenance services, warehouse and logistics solutions, human resources outsourcing, and technical staffing. US Logistics has become a recognized segment leader in outsourced “MRO” and “RESET” services with its well trained, diverse workforce, responsible for the successful execution of various projects in 8 countries and 38 states in the United States. The combination of US Logistics and CAV International has a broader geographic footprint, a greater array of customers, and offers a wider variety of skilled technical services. Both Ranger International subsidiaries are continuing to grow steadily, with robust bidding pipelines and opportunities for expansion. There are approximately 1,000 employees in the combined company, with combined revenues by year-end estimated by management to be approaching a run rate of $100 Million.

US Logistics founder, Mr. Michael Boyce, remains in his role as President and CEO of that Ranger unit, and is a substantial stakeholder in this growth enterprise. “This acquisition provides us with the resources and momentum required to be more competitive in the marketplace and serve larger, more diverse customers,” said Boyce. “It also expands the career opportunities for our highly specialized employees.” Boyce is also president of the new holding company, Ranger International.

Steve Townes, founder of Ranger Aerospace and CEO of Ranger International, stated: "This merger quickly vaults us forward to an outstanding level of critical mass on behalf of our customers and employees. US Logistics works at the heart of the Government Services mission. We look forward to continuing to build its capability under the Ranger umbrella."

Additional Information can be found on the web at www.rangeraerospace.com, www.us-l.com, and www.cavint.com.

Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that are beyond the Company’s control and may cause actual results to differ materially from management’s expectations.