Virginia Beach September 16, 2015 - ADS, Inc., a leading provider of value-added logistics and supply chain solutions, announced that it has entered into a definitive agreement with the shareholders of Theodor Wille Intertrade (TWI) to acquire all of the outstanding shares of TWI. TWI, headquartered in Zug, Switzerland, with operating subsidiaries in Germany and the United Arab Emirates, is a global provider of integrated supply chain solutions to customers primarily operating in the United States European Command (EUCOM) and the United States Central Command (CENTCOM) regions.
TWI delivers construction materials, equipment, hardware, food and food services as well as provides logistics and transportation management services to the U.S. military and other large government contractors.
"Acquiring TWI immediately combines the global capabilities of ADS with the deep local market expertise of TWI in Europe, the Middle East and Central and Southwest Asia," said Karan Rai, ADS president and CFO. "TWI's existing business and pipeline is highly complementary to our portfolio of contract vehicles and provides sound cost and revenue synergy opportunities. This acquisition will also allow us to accelerate growth in an efficient and disciplined manner."
ADS and TWI are two of only 15 companies recognized as a Gold-Tier supplier for the Defense Logistics Agency (DLA) as part of the Department of Defense's Superior Supplier Incentive Program or SSIP. The program is designed to identify the highest performing suppliers measured in areas such as cost, schedule, performance, quality and business relations.
The Gold-Tier distinction is the highest bracket awarded to a company. To be eligible, companies must have significant DLA contracts, a proven track record of performance and an established rating with the federal Contractor Performance Assessment Reporting System (CPARS). More than 150 suppliers were considered for these awards, with only the top 40 selected as DLA's Gold-Tier suppliers.
"This recognition from DLA, confirms that both ADS and TWI are committed to providing the highest level of customer service," said Jason Wallace, ADS CEO. "It will be a good fit when we are able to combine our efforts."
The transaction will close, following satisfaction of certain conditions and approvals, which is currently projected to occur in the fourth quarter of 2015.