Livingstone Partners was sole financial advisor to KGP Logistics, while Felhaber Larson Fenlon & Vogt PA advised it on the legal matters of the transaction.
TriNet Communications is headquartered in Livermore, California.KGP Logistics is based in New Century, Kansas.Country: USASector: Road Transport/Freight TransportTarget: TriNet Communications IncBuyer: KGP Logistics IncType: Corporate acquisitionStatus: AgreedBuyer advisor: Livingstone Partners , Felhaber Larson Fenlon & Vogt PA
Embarq Corporation (NYSE:EQ), a provider of a complete suite of communications services, announced on Thursday (29 January) that it has agreed to sell its supply chain, distribution and deployment subsidiary, EMBARQ Logistics, to KGP Telecommunications Inc, a provider of supply chain services, telecommunication products and integrated solutions.
Under the transaction, KGP will provide certain logistics and supply chain services for EMBARQ's core telecommunications operation under a long-term commercial services agreement.
Upon closure of the transaction, KGP is expected to be one of the largest single-source, value-added distributors of equipment and integrated solutions to the telecommunications industry in the US, with a diverse customer base, a broad portfolio of strategic manufacturer relationships and a national logistics network.
According to Kathleen G Putrah, CEO of KGP, the acquisition of EMBARQ Logistics will position KGP as a leading provider of supply chain and distribution services, with an unmatched network of distribution facilities and skilled professionals.
KGP took financial advice from Livingstone Partners LLC, while Felhaber, Larson, Fenlon & Vogt PA provided it with legal counsel.
Putrah, chairman and chief executive of BlueStream, said that the acquisition presented her company with the opportunity to strengthen its services platform independently of KGP. While KGPa[euro](tm)s capabilities will remain a key factor in the consolidation and expansion of the business, BlueStream will be able to sharpen its focus on every core area of operation.
BlueStream currently conducts its business through 15 regional offices and has a national network comprising seven distribution centres and eight integration facilities.Country: USASector: Business and Consumer ServicesTarget: TE Professional Services Buyer: KGP Logistics Inc, BlueStream Professional Services LLCVendor: TE Connectivity Ltd Deal size in USD: 23.5mType: Corporate acquisitionStatus: AgreedBuyer advisor: Livingstone Partners LLC, Felhaber, Larson, Fenlon & Vogt PA
Macau based VIP room gaming promoter KGP operates one room with five tables at the Venetian Macao Resort Hotel on the Cotai Strip and AERL expects the transaction to close by 30 November 2010, subject to due diligence and customary closing conditions.
The total upfront consideration will be about USD9mn and 1.5m shares for KGP's operations, the company said and added that if KGP attains at least USD6.15m annual net profit for each of the three years after closing, its shareholders would receive three more purchase consideration instalments of up to USD9m and performance based contingent share issuances of 500,000 shares.
Accordingly, as additional incentives for exceeding targets KGP can opt to convert the cash payment part into AERL shares at the end of each year at USD7.50 per share in the first year, USD9.50 per share in the second year and USD12.00 per share in the final year and earn more incentive shares in the years four to ten when certain minimum growth objectives are met.