As executives of TMSi Logistics completed their due-diligence on the potential of Reno's Griffin Global Logistics, they found what they were looking for a strong transportation expertise, a substantial West Coast presence.
But Russ Romine, president of Griffin Global Logistics, says they found more.
"They were very impressed with the strength and depth of our team," says Romine.
TMSi, which is headquartered at Portsmouth, N.H., and Fernandina Beach, Fla., announced last week it had acquired Griffin. Both companies are privately held, and terms weren't disclosed.
Romine said no substantial changes are planned at Griffin, which employs about 80 people in its West Coast operations. He will remain as a top executive of the company.
A third-party logistics company founded in 1975, Griffin's services include international and domestic transportation, customs brokerage and compliance, supply chain management, multi-client warehousing and distribution, and information technology services.
The transportation business, Romine says, was a key that drew the interest of TMSi executives.
Ron Cain, the chairman and chief executive officer of TMSi, said the acquisition will allow his company to increase its business in international transportation.
The deal also increases the West Coast presence of TMSi, which previously operated facilities in the Chicago area as well as Florida and New Hampshire.
Griffin operates a 100,000-square-foot distribution center in Reno, operates a 150,000-square-foot distribution center in the Los Angeles area and operates a U.S. Customs brokerage and compliance office in San Francisco.
"We complement them very well," Romine said.
Griffin, founded in 1975 as an air-freight forwarder, had drawn interest from other companies looking to make an acquisition in recent years, Romine said.
TMSi searched out Griffin about a year ago, Romine said, and talks began.
Romine acquired the company in 2001 from its founder, former Reno Mayor Jeff Griffin.
TMSi has been recognized as one of the 100 largest third-party logistics companies in the nation and was recognized by Inc. magazine as one of the 5,000 fastest-growing companies in America.
