PTA Holdings Inc. Executes LOI to Purchase Iowa based Marketing
& Transportation Company
PHOENIX, Nov. 6, 2012 /PRNewswire/ -- PTA Holdings, Inc.
(Pink Sheets: PTAH) announced today that it has entered into an LOI
for the purchase of Nortford, LLC an Iowa based marketing and transportation
company. While the exact terms were not announced, the transaction
will include both a cash and stock component. The companies expect
to complete the transaction prior to year end, subject to
completion of due diligence and financing required for
the transaction.
Leonard J. Lewensohn, Chief
Executive Officer stated, "we are making real progress as the
company pursues its acquisition roll-up strategy. The
Nortford deal will bring an immediate revenue base of approximately
5 million dollars annually to our
company along with a blue-chip customer base." He further
stated, "PTA Holdings, Inc. will now continue its focus on
expanding the business by initiating its roll-up strategy of
transportation companies, during the 4th quarter of this
year, this initial transaction further indicates our commitment to
grow the company."
Mathew Spafford, CEO of Nortford
LLC states; "We are pleased to become a part of the PTA Holdings
team, and our commitment is to participate in the successful growth
of the combined companies." Nortford provides its marketing and
transportation services primarily to food related
industries.
About Nortford, LLC.
While our tradition of service began with our produce marketing
and truckload services, we've evolved into a first rate 3PL and
trucking operation with a comprehensive portfolio of sourcing,
transportation, and logistics services. Our people, processes, and
technology improve our customers' transportation and supply chains,
as we deliver exceptional value to our customers and suppliers.
Flexible, consistent, unbeatable service is our pledge as we sort
out exactly what a customer's requirements are. We cut
straight to what you need—flexibility, consistency, and on time
deliveries and we are not content to simply meet our customer's
expectations—we are committed to exceeding them every single
day.
About PTA Holdings, Inc.:
PTA Holdings, Inc. is a holding company with a core focus in the
automotive and for-hire transportation industry. The Company
acquired ProFlow Inc. in April
2007.Kingsley Logistics Group, acquired in June of
2012, is a multi-faceted transportation group providing a broad
array of traditional transportation and management services
including LTL & Truckload, Inter-modal, Rail, Warehousing &
Distribution, Equipment Leasing, Brokerage and 3PL, plus Retail
& Special Projects Business Groups. The focus of the combined
companies is to expand the company via a strategic transportation
industry roll-up.
Notice on Forward-Looking Statements:
This
news release includes forward-looking statements regarding PTA
Holdings, Inc. and its business. Such statements are based on
management's current expectations. The forward-looking events and
circumstances discussed in this release may not occur and actual
results could differ materially as a result of known and unknown
risk factors and uncertainties. Forward-looking statements speak
only as of the date on which they are made and PTA Holdings, Inc.
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise
For more information, visit
http://www.ptaholdings.net
Telephone (877)-636-4520
Investor Relations Contact: ir@ptaholdings.net
SOURCE PTA Holdings, Inc.