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.

 

This announcement appears as a matter of record only. April 2006

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