Noble International Acquires Assured Transportation & Delivery
11 September 2000
Noble International, Ltd. Acquires Assured Transportation & Delivery, Inc.DETROIT, Sept. 11 Noble International, Ltd. ("Noble") today reported that it has completed, through its wholly owned subsidiary, Noble Holdings, Ltd. ("Holdings") the acquisition of all of the outstanding stock of Assured Transportation & Delivery, Inc. ("ATD"), a California corporation and its affiliate, Central Transportation & Delivery, Inc. ("CTD"), a Delaware corporation. ATD is one of the premier local and regional providers of auto parts delivery and logistic systems for new automobile dealerships and parts wholesale distributors along the West Coast. ATD also provides distribution services to pharmaceutical companies and food distributors. Currently ATD and CTD have approximately 1,200 drivers servicing 8 states. The purchase price for the acquisition was $8.9 million, plus the payment of a performance premium for fiscal 2001 in the event that the business reaches certain predetermined goals. In announcing the acquisition Robert Skandalaris, Chairman and Chief Executive Officer of Noble said, "The acquisition of ATD and CTD was a valuable strategic opportunity for Noble. With our prior acquisition of DSI, Holdings is now the largest provider of dedicated regional transportation services in the country." For the twelve months ended December 31, 1999 ATD recorded net sales of approximately $34.2 million. Noble anticipates that ATD will contribute positively toward its 2001 earnings.