LOS ANGELES–(BUSINESS WIRE)–Saybrook today announced the sale of Taylored Services (“Taylored” or the “Company”), a U.S. Top 100 3RD Party Logistics (3PL) company, to Yusen Logistics, a leading global supply chain provider with 667 offices in 47 countries worldwide and more than 25,000 employees. Taylored has been a portfolio company of Saybrook since 2012. This sale to Yusen marks the latest success in Saybrook’s long track record of recognizing, investing in, and capitalizing on transformational investment opportunities in supply chain & logistics. Over 20+ years, Saybrook has recognized transformational opportunities in logistics and has aggressively evolved its portfolio.
The deal expands Yusen’s Contract Logistics Group’s warehouse network in key distribution areas of the United States and further strengthens its end-to-end supply chain portfolio with specialized services, such as omnichannel retail, wholesale, and e-Commerce fulfillment, where Taylored has excelled.
Taylored will become part of Yusen Logistics, a subsidiary of NYK Group. “We are deeply impressed by the people, performance, and capabilities of Taylored brought together over the past 10 years by its private equity owner Saybrook,” said Mikhail Kholyavenko, CEO of Yusen Logistics Americas. “We are excited to welcome 350+ employees, who will be led by Matt Ennis, the new President and CEO of Taylored Services. Combining the strengths of Taylored fulfillment centers in U.S. port-centric gateway markets with Yusen Logistics’ global and domestic capabilities in international freight forwarding, warehousing and transloading operations and supply chain orchestration will allow us to provide a full suite of supply chain logistics solutions to our current and future customers.”
Jonathan Rosenthal, Taylored’s Executive Chairman since 2013, praised Houlihan Lokey, Taylored’s exclusive sell side financial advisor, for its effort, saying, “Houlihan Lokey was uniquely discerning in its analysis of the sector and the potential buyer landscape, observing a broader trend of shippers’ desire for end-to-end analytics and control. With deep industry expertise and market relationships, they understood Taylored’s business and the historic transformation of supply networks underway, resulting in a sale to an exceptional buyer and a superior fit for Yusen Logistics.” Rosenthal went on to say, “As Executive Chairman and majority shareholder, we formed deep bonds with the Taylored leadership team, so the sale is bittersweet. However, after 6-months of collaboration with Yusen Logistics, I am confident the Company is in good hands, and our new friends at Yusen will enhance our customer’s experience.”
Jim DeVeau, the prior President & CEO of Taylored, will be staying in an advisory role to support a smooth transition and provide ongoing guidance to Yusen Logistics. Jim stated, “We could not have achieved this extraordinary success for our investors and employees without Saybrook’s support, knowledge, and industry relationships. We are delighted to join Yusen Logistics, a global logistics group with over 68 years of heritage. Taylored employees and customers will benefit from access to Yusen’s extensive global network and supply chain solutions, including international air and ocean freight forwarding and 4PL/Lead Logistics capabilities.”
Keesal, Young & Logan served as legal advisors to Saybrook and the Company. Financial terms of the transaction were not disclosed.
About Saybrook:
Saybrook and its’ affiliates is a Los Angeles based transportation and logistics technology company with roots begun in the 1983 deregulation of U.S. airlines. Since then, its affiliates have owned, operated, or advised more than 100 companies across a wide swath of transportation, logistics, and enabling technology. Saybrook’s focus today is entirely on digitalizing global supplier networks and offering shippers accurate and predictive location intelligence through our cloud-based integration platform designed to save money, increase sustainability, and improve resiliency.
About Taylored Services:
An Edison, New Jersey-based company founded in 1992, Taylored Services has grown to become a multichannel logistics provider offering fulfillment, warehousing, and transportation services, drayage, and transloading. The company provides services to a diversified client base, including wholesalers, manufacturers, and retailers (traditional and online-only e-tailers), with expertise that extends to multiple brand and accessory categories. Their distribution centers are located near the nation’s busiest ports of Los Angeles, Long Beach, New York/New Jersey, Savannah, and Miami.
About Yusen Logistics:
Yusen Logistics is a leading global supply chain company providing ocean and air freight forwarding, warehousing, distribution services, and supply chain management. The company offers logistics services and consulting for optimal supply chain development, including end-to-end supply chain management, with Kaizen-based performance improvement. Utilizing a network of more than 667 offices in 47 countries worldwide, more than 25,000 employees provide optimal solutions to customers’ diverse and complex supply chain demands. Yusen Logistics (Americas) Inc. has 1900 employees and 40 operational sites in the United States, with over 5 million square feet of warehouse capacity. www.yusen-logistics.com
Contacts
Sochenda Sopann
(424) 322-1769
SSopann@esplogisticstech.com
