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Concord, N.C. -- April 16, 2002 -- Cardinal Logistics Management (Cardinal), the privately held provider of dedicated and delivery
transportation services, today announced the completion of its
revised Senior Credit Facility. In addition to the two-year extension
of its agreement with Fleet Capital, Cardinal’s other financial
partners, Prudential Capital and GTCR Golder Rauner, provided additional
resources, giving the company ample support for the continuation
of it’s market-leading growth track.
Cardinal, started in 1997 with the purchase of truckload common
carrier Cardinal Freight, has experienced explosive demand for
its dedicated and delivery product lines. Entering those businesses
in 1997, the company expects to exceed $180 million in revenue
in 2002. (Cardinal exited the common carrier business in early
2001 with the sale of its van division to Swift Transportation.)
“We’ve got a great customer base of market-leading
companies, like The Home Depot, Office Depot, and 7-eleven, and
this gives us all the flexibility we need to create efficient solutions
that support their strategies and growth targets,” states
Tom Hostetler, Cardinal’s President. “We’ve always
been a reliable partner, and we’re delighted be able to work
from a position of continuing financial strength.”
“
Cardinal’s client base needs them to perform flawlessly on
some of the more demanding delivery and dedicated operations in
the market. We think the market for outsourced, specialized, high-intensity
local fleet operations will continue to enjoy significant growth.
Cardinal’s capabilities and national infrastructure are ideally-suited
to create value for its clients in that arena,” said Dave
Donnini, GTCR principle and Cardinal Board member.
About Cardinal Logistics Management Inc. (Cardinal)
Cardinal is an integrated transportation solutions provider that
uses dedicated shipping resources, extensive industry expertise
and advanced technology to help companies optimize their supply
and demand chains. Cardinal’s logistics experts work directly
with clients to develop and implement innovative solutions that
turn their logistics operations from liabilities into strategic
advantages. Cardinal customers include Fortune 50 companies within
the retail, manufacturing and pulp and paper industries such
as The Home Depot and Office Depot. Cardinal is headquartered
in Concord, N.C. For more information about Cardinal, please
visit www.cardlog.com.
Anthony Flynn
Director - Marketing
Cardinal Logistics Management Corporation
1000 Old Roswell Lakes Parkway, Suite
300
Roswell, GA 30076
678-612-2447
aflynn@cardlog.com
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