Vista Advisory Group completes the sale of Network
Courier Services, Inc.
to Endeavour Capital
(Back
to Research & News)
Los Angeles, August 31, 2005 – Vista Advisory
Group, Inc. (“Vista”) announced today that
it initiated and completed the sale of Network Courier
Services, Inc. (“NCS”) to Endeavour Capital
(“Endeavour”), a Portland-based private
equity group.
Vista’s professional relationships with both strategic
and financial buyers in the logistics space enabled
it to quickly identify Endeavour as a qualified buyer
that was able to complete a quick transaction and achieve
the goals of the NCS shareholders. Vista’s relationship
and familiarity with Endeavour led to a streamlined
transaction that enabled the shareholders to avoid a
broad auction process and exposure of the Company’s
sale intentions. Jeff Chung, Managing Director of Vista
stated, “This deal represented the best of both
worlds for the NCS shareholders, we were able to achieve
a premium valuation that you would expect from a competitive
bidding process and negotiated an all cash, upfront
deal without any contingent payments or performance
contingencies.”
The sale to Endeavour achieved non-financial goals for
the shareholders as well. The existing management team
remains intact and is a key component to the growth
and future of the business. Jeff Chung said, “The
philosophy and attitude of Endeavour fit directly in-line
with the culture of the Company and goals of the shareholder.
The NCS shareholders wanted to make sure that its employees
were in good hands and part of Endeavour’s strategy
is to buy good businesses and work together with strong
management teams.” The only change was an alteration
of the Company’s name from Network Courier Services
to Network Courier/Logistics to highlight its growing
logistics business.
About Network Courier/Logistics
For over 30 years, Network Courier has set the standard
for reliable time-critical shipping and logistics services.
As one of the largest independent providers of these
services, its customers rely on them to meet their most
vital transportation needs. For more information about
NCS, please visit its website at www.networklogistics.com.
About Endeavour Capital
Founded in 1991, Endeavour currently manages funds with
over $450 million in equity capital. Endeavour seeks
companies in the Western United States where it can
work as colleagues with management. For more information
about Endeavour Capital, please visit its website at
www.endeavourcapital.com.
