The Logisyn Advisors team is proud to announce the successful closing of Scout Logistics, which was acquired by TA Services, the 3PL division for PS Logistics, on August 11, 2021. Logisyn was honored to represent Scout as a sell-side client and successfully create a synergistic partnership between the companies.
Based in Ontario, Scout Logistics is a market-leading Canadian perishable, cold chain broker with a significant footprint in the United States. Looking to monetize and improve his work/life balance, Scout’s owner, Lorne Swartz, sought a good “fit” buyer who wanted to be strategic in buying brokerage in this niche market. Nikhil Sathe, Managing Director at Logisyn Advisors, led this deal and was thrilled to coordinate an optimal outcome, creating a well-balanced fit for the two parties.
“There is a large growth opportunity in Canada to expand value to shippers and carriers in general, and this partnership is an excellent opportunity to grow the Scout Logistics business with TA Services’ resources, systems, processes, and access to capital,” said Lorne Swartz, Founder of Scout Logistics. “I am so proud to know that our cultures are both focused on providing the best experience for everyone we do business with. I could not be more excited for our employees and customers.”
“Lorne Swartz, Founder of Scout Logistics, and his team bring tremendous expertise and a proven track record of customer satisfaction in cold-chain logistics to TA Services. The like-minded combination of TA Services and Scout Logistics will bring a combined culture that focuses intensely on customer experience, carrier partnerships, and employee well-being,” said Scott Schell, CEO & President of TA Services. “This is an incredible partnership and will make a lasting impact on the industry as a whole.”
Operating a full-service, "asset-right" model, PS Logistics, headquartered in Birmingham, AL has a history of successful integrations within the transportation industry. Scout presents a tremendous growth opportunity for PSL’s non-asset side of the business, helping to expand their footprint in both the Canadian market and perishables sector.
Nikhil Sathe, Logisyn’s Managing Director comments, “This deal is highly accretive to PS Logistics and is a win-win for Scout, Lorne, and PSL. Scout is a market leader in cold chain brokerage with deep relationships and reputation. In my opinion, Scout is highly scalable with the additional bandwidth of PSL. We are very excited about this transaction.”
Logisyn believes that the right fit is one that is mutually beneficial, and this new partnership with PS Logistics delivers multiple benefits for Scout as well. Fulfilling the owner’s goal for a lifestyle change, the transaction also delivers on providing additional bandwidth, resources, and feet on the ground to strengthen Scout’s position in both the US and Canadian markets.
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Logisyn’s objective is to actualize our client’s goals on every single transaction.
As business owners, your goal is not only about the financial outcome, but also about finding the ideal home for your company and employees. We pride ourselves on being able to find the optimal solution for each situation so that both seller and buyer feel confident in their decision to close.