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</html>";s:4:"text";s:20595:"    googletag.enableServices(); It stands to reason, then, that a merger of regional parcel delivery carriers LaserShip and OnTrac, with $1.7 billion in combined annual revenue between them, wouldnt appear on the giants radar. LaserShip and OnTrac are expanding to Texas! This allowed the carriers to deliver more packages within specific time windows, and at attractive rates and fewer delivery surcharges.  Holifield formally assumed the role on Nov. 8, 2021. window.googletag = window.googletag || {cmd: []}; . MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). By joining with LaserShip, we will be well positioned to continue innovating and providing leading service for shippers, and faster delivery for consumers. Founded in 1986, LaserShip is based in Vienna, Virginia and has sorting centers in New Jersey, Ohio, North Carolina, and Florida.. As of 2016, LaserShip has 63 distribution centers and four sorting centers servicing 22 states and Washington, D.C., and handles deliveries for Amazon&#x27;s Same Day . Get the latest business insights from Dun &amp; Bradstreet. (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. Mike Cavanagh Analyst Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. Securities class action lawsuits are filed on behalf of a class of investors or a class of holders of a particular security. The transaction . Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. One top executive said that the news was unexpected and that there was no inkling of a change in the works. The combined company plans an expansion into the Texas market in the very near future and to eventually add Chicago to its network.  2023 American Securities. Note: Revenues for privately held companies are statistical evaluations. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment. Regional carrier LaserShip is acquiring competitor OnTrac in a $1.3 billion deal, in one fell swoop changing the equation in domestic last-mile parcel delivery by giving the combined entity coverage of three-quarters of the continental U.S. as ecommerce demand continues to soar. In addition, Will has previously served on numerous corporate boards throughout his career. There was never any discussion that Holifield would be there for such a finite period of time, said a source outside the company.  All Rights Reserved. That didnt appear to be the case pre-pandemic.     googletag.pubads().collapseEmptyDivs(); The survey found that 74% were not using regional carriers, and just 7% were engaged with them in a significant way. American Securities and Greenbriar, which own LaserShip, will provide additional equity financing for the deal and continue to provide strategic support for the combined company. Mike Erickson, CEO of shipping consultancy AFMS, said the deal was a big win for domestic parcel shippers, given the good reputation and service levels of both companies, providing more options as the operations are merged.     googletag.pubads().enableSingleRequest(); Our new facilities in the fast-growing urban megaregion of Austin, Dallas-Fort Worth, Houston, and San Strong growth is likely to continue over the next couple of years as consumers become accustomed to less than two-day delivery times for ecommerce purchases.. FedEx and UPS, if need be, will sow shipper doubt about diverting volumes to the merged entity, citing inferior technology and the lack of a bona fide national network that can scale to meet shippers multiple needs. . Specifically, Skiver added expansion into new markets like Dallas and Chicago could lead to profitable growth for LaserShip. 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 All Rights Reserved. There are deep pockets behind the tie-up in the form of private equity firm American Securities LLC. About OnTrac Logistics, Inc. (2 minutes) Last-mile delivery specialist LaserShip Inc. on Friday said it named Mark Holifield chief executive, poaching the veteran supply . . var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); That month, FedEx closed on a deal announced the prior October to acquire Caliber System Inc., whose Roadway Package System (RPS) unit had been quietly nibbling at UPS competitive position for 13 years. LaserShip is the leader in e-commerce last-mile delivery for retailers and shippers that desire reduced transit times and increased flexibility within their supply chain. Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally . Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Whats more, Dinneen explained that the transcontinental service launch was based on overwhelming feedback LaserShip and OnTrac received from their customers about the need for a carrier with their speed, reliability, cost-savings and service, but with nationwide scale. It is classified as operating in the Couriers &amp; Express Delivery Services .  It will be the only pure-play national e-commerce solution in last-mile parcel delivery and will enhance customers ability to meet growing demand in the consumer delivery market. Moodys said it expects pursuit of national coverage to continue in 2022, through further acquisitions or expansion of existing assets or both. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, visit american-securities.com. . About Greenbriar Equity Group No time frame for that has been specified. Both LaserShip and OnTrac have exhibited substantial growth in their ecommerce delivery businesses in 2020 and 2021 with significant new customer wins and substantial increases in delivery volumes, Moodys said. In 2018, Shipware surveyed shippers with a collective $2.5 billion in annual parcel spend. (FS) Private equity firms American Securities and Greenbriar-backed LaserShip, an e-commerce last-mile delivery services provider, agreed to merge with OnTrac Logistics, a logistics services provider, in a $1.3bn deal.  The efficiencies generated by these routes are effectively passed on to the shipper, which explains why the regionals price-service proposition can be appealing, she said. And they added, at the time, that in order to ensure continued exceptional service through the holiday season with expectations of heightened shipping volumes, LaserShip and OnTrac would not begin to link their networks until 2022 and would operate independently until then. Duffy looks great on paper, he said. OnTrac is a SmartWay Transport Partner, a USPS Workshare Partner, and integrates with over thirty different multi-carrier software providers. American Securities could fill those gaps through acquisitions or internal expansion. Founded in 1999, Greenbriar is a private equity firm managing over $6 billion of total committed capital focused on investments in market-leading services and manufacturing businesses.   }); Kelly Picard, CEO of Hackbarth Delivery Services Inc., a regional carrier based in Mobile, Alabama, agreed that even in aggregate the regionals are Lilliputians in the land of the twin giants. About one-third said they used regionals because of their service, and they received no cost benefits over what they paid UPS and FedEx. 212-476-8071
 VIENNA, Va. and CHANDLER, Ariz. (PRWEB)
   ROCHESTER, N.Y.--(BUSINESS WIRE)--Eastman Kodak announced today it has acquired the assets of ECRM Incorporated&#x27;s CTP (computer-to-plate) device business for the graphic arts and newspaper . I was amazed how easy it was after I tried itGOOD LUCK.. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. Only wholly-owned subsidiaries are required to provide subsidiary guarantees, posing risks of potential guarantee release if there were a partial change in ownership. We are also expanding to Texas in the first quarter of 2023 in the urban megaregion of Austin, Dallas, Houston and San Antonio to reach an additional 19 million consumers..  We look forward to continuing to innovate for our retail partners in the future.. Lasership serves customers worldwide. Its the next chapter in our steadfast commitment to the On-Time for Less promise we make to our shippers with every package, every day..   googletag.cmd.push(function() { In a statement, Will Manuel, chairman of the board and head of private equity fund American Securities, said he was grateful for Holifields valuable contributions during an important juncture at the delivery company. Loaded & Rolling (Enterprise Fleet News/Analysis).  When was the last funding round for LaserShip? The combined company will be a leading national network and solution for e-commerce retailers and other shipping customers. It provides a more cohesive solution over a much larger geographic area than is currently in place.. LaserShip and OnTrac will begin to link their networks in 2022 to ensure seamless service for customers during the 2021 peak holiday season. Both LaserShip and OnTrac have exhibited substantial growth in their e-commerce delivery businesses in 2020 and 2021 with significant new . We are at the beginning of a shift in package delivery, where local and regional volume will continue to grow as a percentage of total, with inventory moving closer to demand, Skiver shared in a LinkedIn post. Liked by Will Manuel.    Moody's also assigned B2 ratings to the company's proposed first-lien credit facilities, consisting of a $75 million revolver expiring 2026 and a $675 million term loan due 2028, and a Caa2 rating to the proposed $205 million second-lien term loan due 2029.   googletag.cmd.push(function() {  To ensure continued exceptional service through the holiday season with expectations of heightened shipping volumes, LaserShip and OnTrac will not begin to link their networks until 2022 and will operate independently until that time. I predict more consolidation of regionals especially with the rate increase being slapped on shippers by UPS and FedEx this year. vCard. Will Manuel, an American Securities managing director who is also LaserShip&#x27;s chairman, has high aspirations for the entity in a delivery world turned upside down by the COVID-19 pandemic.  - We also assigned our &#x27;B-&#x27; rating and &#x27;3&#x27; recovery rating to the company&#x27;s proposed $675 million first-lien . We are dedicated to a true partnership with our management teams, our colleagues, our investors, and all others who help us achieve our mission.  http://www.greenbriarequity.com, For LaserShip:
 Rating Action: Moody's assigns B3 CFR to LaserShip; outlook stableGlobal Credit Research - 19 Apr 2021New York, April 19, 2021 -- Moody's Investors Service, ("Moody's") assigned first-time ratings to ASP LS Acquisition Corp. ("LaserShip") including a B3 corporate family rating ("CFR") and a B3-PD probability of default rating.   LaserShip is a portfolio company of American Securities and Greenbriar, and both will provide additional equity financing and continued strategic support for the combined company.     googletag.enableServices(); , Diversified Healthcare: Q4 Earnings Snapshot, UPDATE 1-US pick to head World Bank, ex-Mastercard CEO Banga, starts 'charm offensive', UPDATE 1-Cardinal Health, McKesson prevail in Georgia families' opioid trial, Asian Stocks Face Pressure as Yields Move Higher: Markets Wrap, UPDATE 1-US Supreme Court doubt over student debt relief looms over Biden agenda. Satish Jindel, president of Shipmatrix, said the LaserShip/OnTrac deal proved there is money to be made in B2C delivery, running counter to the duopolys growing focus on shifting the mix toward more profitable B2B shipments.  LaserShip is part of a portfolio within American Securities and Greenbriar and said that both companies will provide additional equity financing and continued strategic support for the combined company. This will open an investigation for the package. About LaserShip, Inc.
 In 2022, the company spent $100 million to build a sortation hub in Philadelphia and to expand facilities in Columbus, Ohio; Charlotte, North Carolina; and Nashville, Tennessee. Copyright 1997-2015, Vocus PRW Holdings, LLC. They acquired OnTrac Shipping for $1.3B.     googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); So Amazon sources cheaper options. There is no explicit protective language limiting such releases.FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGSThe ratings could be upgraded if LaserShip demonstrates improving and sustainable operating leverage as delivery volumes increase, such that EBITDA margins are maintained in at least the mid-teens range and debt/EBITDA decreases toward 5x. One of those is . Even before this deal, regionals had been expanding their coverage to meet increased demand and take advantage of the opportunity. . October 11, 2021  10-35%. This should allow LaserShip to maintain EBITDA margins in the mid-teens range, which should lead to debt/EBITDA in the low-6x range by end of 2021.   }); Duffys background at FleetPride and elsewhere extraordinarily prepares him to succeed in his new role, Martinez said. ASP LS Acquisition Corp. (d/b/a LaserShip), a Vienna, Va.-based regional last-mile package delivery service provider, has entered into an agreement to be acquired by American Securities LLC.     googletag.enableServices(); Questions about your PRWeb account or interested in learning more about our news services? Rob Martinez, founder and co-CEO of consultancy Shipware LLC, said he was surprised by the announcement. Moody&#x27;s also assigned B2 ratings to the company&#x27;s proposed first-lien credit facilities, consisting of a $75 million . LaserShip has agreed to buy Arizona-based OnTrac Logistics. We aim to be respectful in all of our interactions. Amy Harsch
 The company&#x27;s integrated regional parcel network offers customers a unique solution for next day and two-day parcel service across more . Mark Lovett, David Horing, Former Tekni-Plex CEO Paul Young, and David Musicant. LaserShip closed its last funding round on May .  One thing for sure, UPS and FedEx better wake up. Number of Funding Rounds 1. Find company research, competitor information, contact details &amp; financial data for Grand Fortune Securities Co.,Ltd of Taipei City. When the merger was initially announced, LaserShip and OnTrac said they would form the only pure-play national e-commerce solution in last-mile parcel delivery and enhance customers ability to meet growing demand in the consumer delivery market. LaserShip has raised 1 round. The conventional wisdom is that regional carriers offer competitive rates because of their relatively low overhead. - The combined company will be a leading national network and solution for e-commerce retailers and other shipping customers.     googletag.pubads().collapseEmptyDivs();    googletag.cmd.push(function() { For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. VIENNA, Va., Feb. 28, 2023 /PRNewswire-PRWeb/ -- LaserShip/OnTrac, the largest regional e-commerce parcel carrier in the U.S. and leader in e-commerce last-mile delivery, today announced the .  pr@lasership.com, For American Securities:
 window.googletag = window.googletag || {cmd: []}; In the case of additional junior secured debt, the Secured Leverage Ratio does not exceed a level greater than 0.25x the ratio at the closing date or most recently ended test period. Nicole Chen. The number of new customers has increased rapidly of late, and remains to be seen whether the company can service all of its customers at the required service levels. Faster transit time than national carriers. LaserShip&#x27;s proven, industry-leading last-mile delivery platform will help you acquire and retain customers with faster delivery while building capacity and flexibility within your supply chain. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then.  2023 American Securities. The ratings could also be downgraded if LaserShip is unable to generate positive free cash flow or availability on its revolving credit facility is materially reduced.Based in Vienna, Virginia, ASP LS Acquisition Corp. (d/b/a LaserShip) is a regional last mile parcel delivery provider in the eastern U.S. with a focus on business to consumer deliveries for leading e-commerce retailers across apparel, health and beauty, food, and mass merchandise markets. VIENNA, Va. (PRWEB) February 28, 2023 LaserShip/OnTrac, the largest regional e-commerce parcel carrier in the U.S. and leader in e-commerce last-mile delivery, today announced the appointment of Mike Duffy as the company&#x27;s new Chief Executive Officer, effective immediately.Mr. LaserShip is the leader in e-commerce last-mile delivery for retailers and shippers that desire reduced transit times and increased flexibility within their supply chain. There is a player that might be emerging on the U.S. parcel delivery landscape: private equity. Acquisition activity may be muted over the course of 2021 as LaserShip delivers volume growth through its existing network, but the company could look to expand geographically through acquisitions.The stable outlook reflects Moody's expectation for LaserShip to generate earnings growth on substantially higher delivery revenues to maintain debt/EBITDA below 6.5x and generate positive free cash flow.The B2 rating on the first lien senior secured credit facilities, one notch above the company's B3 CFR, takes into account this debt's priority position in the company's liability structure ahead of the second lien term loan, which provides first-loss absorption in the event of a default. ";s:7:"keyword";s:29:"american securities lasership";s:5:"links";s:195:"<a href="http://informationmatrix.com/ut6vf54l/how-old-is-a-3-foot-alligator">How Old Is A 3 Foot Alligator</a>,
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