GREENVILLE, S.C.--(BUSINESS WIRE)--Ranger International Services Group, a private equity consolidator specializing in government services, has been honored by The M&A Advisor for its acquisition of US Logistics. The merger of US Logistics into Ranger International was deemed the Lower Middle-Market Deal of the Year (under $50mm) by an independent panel that reviewed the 170 nationwide finalists in each of 34 categories. Ranger was able to complete 2 acquisitions in 2009, during the worst economic recession in decades, by teaming with First New England Capital, Argosy Investments and Plexus Capital to acquire CAV International and US Logistics. The combined enterprise is expected to finish 2010 with revenue run rates in excess of $100 million dollars and robust operating profits. US Logistics and CAV (pronounced as in “cavalry”) together employ approximately 1,000 people world-wide. These aggressive transactions totaled roughly $28 Million of capitalization by Ranger, despite the troubled economy.
The award, given in a well attended ceremony in New York in December, was accepted by Generational Equity, the investment bank that managed both transactions. Tom Staszak, Generational Equity's lead managing director for the merger stated, "There are a large number of investment groups interested in the government outsourcing area. US Logistics explored a wide range of potential growth strategies before deciding to partner with Ranger and CAV International. It is a testament to the outstanding organization created by the US Logistics team that there was a significant amount of interest in the company. US Logistics chose a strong partner that is committed to rapid growth and long-term success."
Steve Townes, CEO of Ranger International and founder of Ranger Aerospace, said “We feel very privileged to be partnered with the teams of US Logistics and CAV International. They are both excellent companies filled with outstanding people.”
Ranger International invested in the government airfield services sector in January 2009 with the majority buyout of CAV International Inc., which specializes in airfield services and base logistics. In 2008, CAV performed over 625,000 man-hours of quality-driven professional services, handled over 18,000 USAF airplanes across 19 time zones, processed over 850,000 in-transit military passengers, managed over 140,000 tons of cargo, and ranked 573 on the prestigious “Inc. 5000” for its rapid growth in the preceding three years.
Ranger added to its government services portfolio with the August 2009 merger with US Logistics Inc. US Logistics is a government outsourcing contractor specialized in aircraft technical services, tactical vehicle overhauls and repairs, technical staffing and base logistics. US Logistics has skilled personnel deployed at overhaul depots and maintenance centers in the United States and overseas, working directly for Prime Contractors and for the U.S. government. US Logistics has completed various projects in 8 countries and 38 states, and has won numerous awards for superior quality.
Ranger is a privately held investment and management holding company that partners with larger private equity institutions to acquire and grow companies in aviation services and aerospace/defense support operations. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in an array of aerospace/defense operations, business services, and private equity. The head office is in Greenville S.C. For more information, please visit www.rangerinternational.com, www.cavint.com, www.us-L.com, and www.rangeraerospace.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.
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