LSC Communications Acquires The Clark Group
November 29 2017 - 6:30AM
Business Wire
Continues To Expand and Strengthen Logistics Platform
LSC Communications (NYSE: LKSD) announced today that it has
acquired The Clark Group. Clark is a leading third-party logistics
provider of distribution, consolidation, transportation management
and international freight forwarding services, with a network of
nine strategically located distribution centers in the US.
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“Continuing to expand LSC’s logistics service offering in ways
that add value to our clients’ businesses has been a sharp focus
for us,” said Thomas J. Quinlan III, Chairman and CEO of LSC. “The
Clark Group brings a range of supply chain services to LSC that
position us for growth, including the ability to better provide a
full-service offering for magazine clients with newsstand
distribution as well as reverse logistics solutions for our book
publisher clients.”
Gores acquired The Clark Group out of the firm’s lower middle
market fund, Gores Small Capitalization Partners, and then followed
with a number of add-on acquisitions to establish a world class
logistics provider with a single source supply chain solution.
Clark has experienced significant success in customized reverse
logistics solutions for the book industry over the past five years,
resulting in revenue growth and significant cost savings to
publishers, distributors and retailers.
“We believe that the Clark management team has executed a valued
transformation over the years, and has landed with the right
company in LSC.” added Chris Crowell, Managing Director of The
Gores Group. “We wish the Clark team continued success in their
partnership with LSC.”
LSC has been building the company’s distribution capabilities
for print and non-print materials. This acquisition marks LSC
Communications’ second acquisition in the logistics space this
year, following the acquisition of Fairrington Transportation
announced on July 31, 2017.
About LSC Communications
With a rich history of industry experience, innovative solutions
and service reliability, LSC Communications (NYSE: LKSD) is a
global leader in print and digital media solutions. The company’s
traditional and digital print-related services and office products
serve the needs of publishers, merchandisers and retailers around
the world. With advanced technology and a consultative approach,
LSC’s supply chain solutions meet the needs of each business by
getting their content into the right hands as efficiently as
possible.
About The Gores Group
The Gores Group (“Gores”), founded in 1987 by Alec Gores, is a
global investment firm focused on acquiring controlling interests
in mature and growing businesses which can benefit from the firm’s
operating experience and flexible capital base. Over its 30 year
history, The Gores Group has become a leading investor, having
demonstrated a reliable track record of creating value in its
portfolio companies alongside management. Gores Small
Capitalization Partners targets investments in the lower middle
market and employs the same investment philosophy and
operationally‐focused strategy that are core to Gores.
Headquartered in Los Angeles, The Gores Group maintains offices in
Boulder, Colorado, and London. For more information, please visit
www.gores.com.
Use of Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the U.S. Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue reliance on
these forward-looking statements and any such forward-looking
statements are qualified in their entirety by reference to the
following cautionary statements. All forward-looking statements
speak only as of the date of this news release and are based on
current expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements, including risks
associated with the ability of LSC Communications to perform as
expected as a separate, independent entity and risks associated
with the volatility and disruption of the capital and credit
markets, and adverse changes in the global economy. Readers are
strongly encouraged to read the full cautionary statements
contained in LSC’s filings with the SEC. LSC disclaims any
obligation to update or revise any forward-looking statements.
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Investor Relations Contact:LSC Communications, Inc.Janet
HalpinSenior Vice President, Treasurer & Investor
Relationsinvestor.relations@lsccom.com773-272-9275
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