GENCO Supply Chain Solutions said Monday it completed its merger with ATC Technology Corp., forming a combined company that will be privately owned and rebranded under the name GENCO ATC.
    The merger creates one of North America’s largest third-party logistics providers.
    GENCO ATC will have estimated annual revenue of $1.5 billion, 10,000 employees and grow to 120 locations, adding Fort Worth and Carrolton, Texas, Oklahoma City, Okla., Memphis, Tenn. and Matamoros, Mexico.
     “Today, we increased the depth and breadth of our service offering and our ability to diversify into the fast-growing wireless, consumer electronics/information technology and vehicle service parts markets,” said Herb Shear, chairman, president and chief executive officer of GENCO ATC.
    “We are focused on quickly capitalizing on the attractive opportunities this merger has created to deliver value to our customers and accelerate our top-line growth,” Shear said.
    GENCO paid $512.6 million to acquire ATC under the merger agreement first announced in July.

Source: JOC