CHICAGO--(BUSINESS WIRE)--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.
“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.