
Burris Logistics, headquartered in Milford, Delaware,
operates a network of frozen food warehousing and distribution systems
in the eastern United States. Today, third, fourth and
fifth generation Burris family members continue the tradition of
hands-on management and personal involvement in the business.
Since 1989, Source Capital, Ltd. has represented
the Burris Family and the Company on many matters related to growth
strategy, acquisitions, financing the growth of the business, inter-generational
business transfer, and business governance. During this time, the
Company has grown to become one of the principal competitors in
its industry niche in North America, and one of the largest temperature
controlled logistics companies on the East Coast. The Company offers
its customers a rare combination of strength, stability and experience.
Because of its strong market leadership position,
the Company is uniquely positioned to opportunistically pursue a
wide range of growth alternatives and, as a result, needed an industry
leading credit structure, which could be used to quickly and
efficiently respond to internal, external, asset based, or non-asset
based growth moves. Source Capital, Ltd. successfully guided the
Company on being able to structure and place such a credit facility.
Since 1982, Source has represented many multi generational
business-owning families on matters related to growing more valuable
companies, balancing the capital needs of a growing business with
the periodic liquidity needs of shareholders, and perfecting business
governance mechanisms. Source has extensive experience in representing
businesses involved in the transportation, warehousing, logistics
and distribution industries.
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| This announcement appears as
a matter of record only. April 2006 |
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