BG Strategic Advisors Announces that Quality One Wireless, LLC Has Acquired BGSA Client Personal Communications Devices, LLC
West Palm Beach, FL – October 22, 2013 – BG Strategic Advisors (“BGSA”) is pleased to announce that Quality One Wireless, LLC (“Q1W”), a global leader in wireless distribution, has acquired BGSA client Personal Communications Devices, LLC (“PCD”), a leading provider of wireless devices to service providers in the Americas for more than 25 years. The purchase completes Q1W’s “stalking horse bid” to acquire substantially all of the operating business assets of PCD through a sale under Section 363 of the U.S. Bankruptcy Code. The purchase price of the acquisition was in excess of $125 million, and the companies will operate under the Quality One Wireless brand.
“PCD’s products and market segments are an ideal fit for our global distribution channels,” said John Chiorando, President and Chief Executive Officer of Q1W. “Acquiring PCD allowed a natural extension of our core business, and will accelerate the product and market penetration strategies that benefit our global Telecom customers.”
The completion of the transaction unites two wireless industry leaders to provide carriers, OEM’s and other wireless technology partners with a rich array of distribution, go-to-market, and product life cycle solutions across the globe.
“This acquisition brings together very complementary capabilities and distribution channels to dramatically increase the overall value added to device makers, telecom carriers, and retailers alike,” said George Appling, President and CEO of PCD. “We are confident that it will result in an expanded customer base to include both the traditional Tier 1 carrier focus of PCD and the regional carrier and dealer focus of Quality One. Moreover, both companies have been aggressively growing their accessories and M2M businesses and that focus will continue.”
About Personal Communications Devices
A global gateway for its technology partners throughout the Americas, PCD provides both carriers and manufacturers a rich array of product life cycle management services that includes planning and development; inventory; technical testing; quality control; forward and reverse logistics; sell-in and sell-thru, marketing & warranty support. Its extensive portfolio of high-quality and versatile wireless devices includes feature phones, smartphones, tablets, mobile hotspots, modems, routers, fixed wireless, M2M, GPS, and other innovative wireless connectivity devices and accessories. PCD is based in Hauppauge, New York; and maintains operations facilities in Brea, California; and Toronto, Canada.
About Quality One Wireless
Quality One Wireless is a leading global distributor of wireless handsets, accessories, and communication equipment throughout North America, South America, and the Caribbean, providing one-point product and device solutions. The company specializes in customized solutions that include refurbishing, repair, and distribution of wireless devices. Collaborating with industry partners, our team develops optimum mobility strategies to maximize benefits and minimize your risks. We ensure satisfaction through innovative products and superior services. Based in Orlando, Florida, Quality One Wireless offers complete solutions to wireless operators, MVNO’s, insurance providers, retailers, dealers, wholesalers, and e-commerce partners.
BG Strategic Advisors Announces that Echo Global Logistics, Inc. Has Acquired BGSA Client Open Mile, Inc.
West Palm Beach, FL – March 19, 2013 – BGSA is pleased to announce that Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, has acquired BGSA client Open Mile, Inc., a truckload brokerage headquartered in Boston, MA.
Founded in 2010, Open Mile is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers.
“Open Mile has developed leading edge, cloud-based technology that successfully automates many of the manual tasks of transportation management,” said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. “The acquisition of Open Mile enhances the technology solutions we offer clients and carriers while also expanding our client base, sales force and carrier network in the Northeastern United States.”
“Echo is the premier third party logistics firm in the transportation industry,” stated Evan Schumacher, CEO of Open Mile. “We look forward to joining the Echo team and contributing to the industry leading technology that drives their business.”
About Echo Global Logistics
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients’ transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
About Open Mile
Open Mile, based in Boston, is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers. For more information on Open Mile, visit: www.openmile.com.
BG Strategic Advisors Announces that Liquidity Services, Inc. Has Acquired BGSA Client National Electronic Service Association (NESA)
West Palm Beach, FL – November 2, 2012 – BG Strategic Advisors is pleased to announce that Liquidity Services, Inc. (NASDAQ: LQDT) has acquired National Electronic Service Association (NESA) in an all-cash transaction. NESA is a Canadian provider of returns management, refurbishment and reverse logistics services for high-value consumer electronics, telecommunications, and information technology products. BG Strategic Advisors acted as the exclusive financial advisor to NESA in this transaction.
NESA, with nearly 130 employees, is headquartered in Toronto, Ontario and establishes Liquidity Services’ first client service and distribution center in Canada while enabling the company to cross-sell services with existing and prospective clients in both the U.S. and Canada. NESA’s current service offering is supported by NESA Live, a cloud based application that supports returns management, repair and refurbishment services in hundreds of product categories, including satellite TV boxes, laptops, game consoles, tablets, and e-books.
“With the proliferation of technology causing complexity and shorter life cycles across thousands of products, our comprehensive reverse logistics solution, encompassing returns management, refurbishment and multi-channel disposition and re-sale services, enables us to reduce costs and increase recovery value for retailers and OEMs,” said Bill Angrick, Chairman and CEO of Liquidity Services. “We are delighted to add NESA’s experienced team to our business and look forward to providing NESA’s client base the opportunity to utilize our existing multi-channel asset recovery services for surplus and refurbished consumer electronics and technology products. The Liquidity Services solution leverages over 2.2 million global buyers and our experience completing the sale of over $3.0 billion in Gross Merchandise Volume.”
“We are excited to join Liquidity Services and combine our respective services to create a comprehensive reverse logistics solution for electronic and technology products,” said Dominic Renda, President and Founder of NESA. “Liquidity Services brings us a leading market position, expertise and resources to help NESA reach the next level, representing an even brighter future for our growth, innovation and value for our clients and employees.”
Liquidity Services expects the transaction to be $0.02 to $0.03 cents accretive to its fiscal year 2013 earnings results.
Founded in 1986 in Toronto, NESA provides comprehensive reverse and forward logistics solutions, procurement, repair, refurbishment and remanufacturing services to leading electronics manufacturers, distributors and service providers in Canada through a distributed national service network. NESA’s mission is to provide repair and warranty services for electronic products, as well as refurbishment and re-manufacturing for a full range of consumer and business electronic products. Located in Toronto, Ontario, NESA and its team of nearly 130 employees are proud of their 26-year history of service excellence serving corporate and consumer clients across Canada. Additional information can be found at www.nesacanada.com.
About Liquidity Services
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies and buying customers the world’s most transparent, innovative and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $3.0 billion of surplus, returned and end-of-life assets, in over 500 product categories, including consumer goods, capital assets and industrial equipment. The company is based in Washington, D.C. and has nearly 1,200 employees. Additional information can be found at www.liquidityservicesinc.com.