SOURCE: Unisource Corporate Corporation

Unisource Corporate Corporation

June 23, 2014 08:36 ET

Unisource Completes Acquisition of Top Flight Concepts, LLC

MIAMI, FL--(Marketwired - Jun 23, 2014) - Unisource Corporate Corporation (OTCBB: USRC) has completed the acquisition of Top Flight Concepts, LLC (TFC). The transaction brings a significant portfolio of unique Intellectual Property into Unisource as well as over 500 additional manufacturer, distributor, and 3rd Party Logistics Provider clients to the combined company. With over 15 years of continuing profitable operating history, TFC also brings to Unisource TFConnect® -- a complete suite of Transportation Management System (TMS) software, multiple rating engine systems, other valuable shipping / freight management technologies for existing Unisource customers, as well as over $1.6 million in annualized gross revenues. TFC also is registered as a nationally recognized freight broker and technology provider, with all appropriate operational licenses.

The acquisition of TFC was an all-stock transaction, and Unisource will begin to report consolidated financials, including TFC revenues, beginning this current Quarter.

As part of the transaction, John Peterson, Founder and CEO of TFC, will remain as CEO of TFC, and will also become the new President of Unisource subsidiary, Visionship, Inc. Mr. Peterson has also been appointed as Chief Information Officer of Unisource, and will report directly to the Unisource Board of Directors. Mr. Peterson is a summa cum laude graduate of the Georgia Institute of Technology, and has held technology oversight and development roles with Lucent Technologies, IMS Health, BellSouth, and Georgia Pacific Corporation. He personally developed the majority of TFC's systems, software, and associated technologies.

Bill Wood, as previously disclosed, has stepped down as the President of Visionship, Inc., and will continue to serve as a consultant during a transitional period, directly assisting Mr. Peterson in his new role.

"From the start of our discussions with John Peterson and TFC over five months ago, the synergies as well as accelerated growth potential became immediately apparent," stated Jordan Serlin, Chairman and CEO of Unisource. "John and his team at TFC have already proven to be fantastic working partners, and we are looking to rapidly expand operations and revenue generation in a number of existing areas, as well as new capacities, under John's direct leadership. The transaction places Unisource in a much enhanced position in nearly every aspect of our operations, with a whole range of technologies which, when combined with Visionship's paperless systems, will create an entirely new paradigm within the transportation and freight management segment.

"TFC was being courted for acquisition by a number of well-known public and private companies in the space, but Unisource and its management brought a truly unique perspective and operational plan to the table, fully leveraging the strengths and resulting enhanced revenue opportunities which the combination of our companies provide," stated John Peterson, CEO of Top Flight Concepts. "Both management teams spent a very significant amount of time developing our post-transaction activities, and we now fully intend to rapidly move ahead with a number of new products and service offerings in 2014 which will directly complement our existing, combined product suites. We couldn't be more excited with becoming part of the Unisource family, and the significant opportunities our combination represents."

Founded in 1992, Top Flight Concepts, LLC has grown to be recognized as a leading provider of innovative freight management solutions. The company developed and deployed TFConnect®, a complete shipping management system designed to directly connect shippers, brokers and carriers to facilitate all facets of shipping and freight data management. With advanced features such as customized client web portals, multi-mode rate aggregation, direct carrier API integration for rate quoting and pickup scheduling, load board integration, electronic bid requests, automated tracking, and more, TFConnect® gives shippers and 3PLs the power and flexibility they need to stay competitive, increase overall transparency, and increase revenue yields.

TFC is a Microsoft Certified Partner as well as a Technology Partner with SMC3, and currently services over 500 customers ranging from large volume shippers to small business users as well as multiple third party logistics providers (3PL) worldwide.

With this transaction, Unisource will continue its stated mission of identifying additional strategic acquisition targets, now with the assistance of the entire TFC team. Additionally, Unisource has engaged an auditing firm to finalize the Company's plans to become a fully-reporting company, as rapidly as possible.

"This is just the beginning of the next phase of our overall growth strategy," Mr. Serlin commented further. "With the TFC transaction now executed, we fully intend to provide maximum benefit to our shareholders by moving Unisource to the next tier of public visibility and revenue acceleration."

For further information on Top Flight Concepts, please visit www.tfconcepts.com or www.shiptfc.com or call +1 (855) SHIP-TFC. For additional information on Unisource please visit www.unisourcecorp.com or call +1 (561) 228-5181.

About Unisource
Unisource, (OTCBB: USRC), a global transportation and logistics management company, aggregates third-party logistics (3PL) service companies as well as cloud-based logistic applications to improve efficiencies and deliver significant cost savings to users worldwide. In November 2012, USRC acquired Visionship, a SaaS-based proactive transportation management system, which delivers predictive, in-transit transportation data to users driving significant cost savings to manufacturers, distributors and carriers. In June 2014, USRC acquired Top Flight Concepts, a market leader in development of innovative customized freight management solutions, as well as TFConnect®, a complete shipping management system designed to directly connect shippers, brokers and carriers to facilitate all facets of shipping and freight data management. Serving all transportation modes, USRC provides core logistics services to users for ALL modes of shipping. With ability to ship anything, USRC currently operates in multiple industries of manufacturing including: automotive, printing, telecommunications, electronics, industrial products, food grade products, packaging, household and consumer goods among others. www.unisourcecorp.com

Forward-Looking Statements Disclosure
This release contains forward-looking statements that reflect Unisource Corporate Corporation's plans and expectations. In this press release and related comments by Company management, words like "expect", "anticipate", "estimate", "forecast", "objective", "plan", "goal", "position", "equate", and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Contacts:
    Unisource Investor Relations
    (561) 228-5181