Unisource Completes Acquisition of Top Flight Concepts, LLC
MIAMI, FL--(Marketwired - Jun 23, 2014) - Unisource Corporate
Corporation (OTCBB: USRC) has completed the acquisition of Top
Flight Concepts, LLC (TFC). The transaction brings a significant
portfolio of unique Intellectual Property into Unisource as well as
over 500 additional manufacturer, distributor, and 3rd Party
Logistics Provider clients to the combined company. With over 15
years of continuing profitable operating history, TFC also brings
to Unisource TFConnect® -- a complete suite of Transportation
Management System (TMS) software, multiple rating engine systems,
other valuable shipping / freight management technologies for
existing Unisource customers, as well as over $1.6 million in
annualized gross revenues. TFC also is registered as a nationally
recognized freight broker and technology provider, with all
appropriate operational licenses.
The acquisition of TFC was an all-stock transaction, and
Unisource will begin to report consolidated financials, including
TFC revenues, beginning this current Quarter.
As part of the transaction, John Peterson, Founder and CEO of
TFC, will remain as CEO of TFC, and will also become the new
President of Unisource subsidiary, Visionship, Inc. Mr. Peterson
has also been appointed as Chief Information Officer of Unisource,
and will report directly to the Unisource Board of Directors. Mr.
Peterson is a summa cum laude graduate of the Georgia Institute of
Technology, and has held technology oversight and development roles
with Lucent Technologies, IMS Health, BellSouth, and Georgia
Pacific Corporation. He personally developed the majority of TFC's
systems, software, and associated technologies.
Bill Wood, as previously disclosed, has stepped down as the
President of Visionship, Inc., and will continue to serve as a
consultant during a transitional period, directly assisting Mr.
Peterson in his new role.
"From the start of our discussions with John Peterson and TFC
over five months ago, the synergies as well as accelerated growth
potential became immediately apparent," stated Jordan Serlin,
Chairman and CEO of Unisource. "John and his team at TFC have
already proven to be fantastic working partners, and we are looking
to rapidly expand operations and revenue generation in a number of
existing areas, as well as new capacities, under John's direct
leadership. The transaction places Unisource in a much enhanced
position in nearly every aspect of our operations, with a whole
range of technologies which, when combined with Visionship's
paperless systems, will create an entirely new paradigm within the
transportation and freight management segment.
"TFC was being courted for acquisition by a number of well-known
public and private companies in the space, but Unisource and its
management brought a truly unique perspective and operational plan
to the table, fully leveraging the strengths and resulting enhanced
revenue opportunities which the combination of our companies
provide," stated John Peterson, CEO of Top Flight Concepts. "Both
management teams spent a very significant amount of time developing
our post-transaction activities, and we now fully intend to rapidly
move ahead with a number of new products and service offerings in
2014 which will directly complement our existing, combined product
suites. We couldn't be more excited with becoming part of the
Unisource family, and the significant opportunities our combination
represents."
Founded in 1992, Top Flight Concepts, LLC has grown to be
recognized as a leading provider of innovative freight management
solutions. The company developed and deployed TFConnect®, a
complete shipping management system designed to directly connect
shippers, brokers and carriers to facilitate all facets of shipping
and freight data management. With advanced features such as
customized client web portals, multi-mode rate aggregation, direct
carrier API integration for rate quoting and pickup scheduling,
load board integration, electronic bid requests, automated
tracking, and more, TFConnect® gives shippers and 3PLs the power
and flexibility they need to stay competitive, increase overall
transparency, and increase revenue yields.
TFC is a Microsoft Certified Partner as well as a Technology
Partner with SMC3, and currently services over 500 customers
ranging from large volume shippers to small business users as well
as multiple third party logistics providers (3PL) worldwide.
With this transaction, Unisource will continue its stated
mission of identifying additional strategic acquisition targets,
now with the assistance of the entire TFC team. Additionally,
Unisource has engaged an auditing firm to finalize the Company's
plans to become a fully-reporting company, as rapidly as
possible.
"This is just the beginning of the next phase of our overall
growth strategy," Mr. Serlin commented further. "With the TFC
transaction now executed, we fully intend to provide maximum
benefit to our shareholders by moving Unisource to the next tier of
public visibility and revenue acceleration."
For further information on Top Flight Concepts, please visit
www.tfconcepts.com or www.shiptfc.com or call +1 (855)
SHIP-TFC. For additional information on Unisource please visit
www.unisourcecorp.com or call +1 (561) 228-5181.
About Unisource Unisource, (OTCBB: USRC), a global
transportation and logistics management company, aggregates
third-party logistics (3PL) service companies as well as
cloud-based logistic applications to improve efficiencies and
deliver significant cost savings to users worldwide. In November
2012, USRC acquired Visionship, a SaaS-based proactive
transportation management system, which delivers predictive,
in-transit transportation data to users driving significant cost
savings to manufacturers, distributors and carriers. In June 2014,
USRC acquired Top Flight Concepts, a market leader in development
of innovative customized freight management solutions, as well as
TFConnect®, a complete shipping management system designed to
directly connect shippers, brokers and carriers to facilitate all
facets of shipping and freight data management. Serving all
transportation modes, USRC provides core logistics services to
users for ALL modes of shipping. With ability to ship anything,
USRC currently operates in multiple industries of manufacturing
including: automotive, printing, telecommunications, electronics,
industrial products, food grade products, packaging, household and
consumer goods among others. www.unisourcecorp.com
Forward-Looking Statements Disclosure This release contains
forward-looking statements that reflect Unisource Corporate
Corporation's plans and expectations. In this press release and
related comments by Company management, words like "expect",
"anticipate", "estimate", "forecast", "objective", "plan", "goal",
"position", "equate", and similar expressions are used to identify
forward-looking statements, representing management's current
judgment and expectations about possible future events. Management
believes these forward-looking statements and the judgments upon
which they are based to be reasonable, but they are not guarantees
of future performance and involve numerous known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results, performance, achievements or financial position to be
materially different from any future results, performance,
achievements or financial position expressed or implied by these
forward-looking statements.
Contacts: Unisource Investor Relations (561) 228-5181
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