SEKO Expands Ownership to Strategic Partners and Senior Managers

Feb 09 2011

Itasca, IL

SEKO Worldwide (www.sekologistics.com) – a global provider of supply-chain solutions, including comprehensive transportation, logistics and IT solutions – is thrilled to announce a major milestone in the advancement of the company.

When Bill Wascher, Tom Cagney and Steven Goldberg purchased SEKO on October 31, 2002, they made three commitments to the network's Strategic Partners (independent contractors). First, they would return the company to profitability. Second, SEKO would be transformed into a global logistics provider. Third, the network would be re-engineered with an equity model allowing the Strategic Partner's input and ownership in SEKO.

After eight years of consistent and profitable growth, including establishing a presence around the globe, SEKO is pleased to announce that it has fulfilled all of its original commitments. Effective January 1, 2011, the Strategic Partners and senior managers of SEKO joined Bill Wascher and Steve Goldberg as owners.

Kevin O'Malley, long time Strategic Partner in Philadelphia, is thrilled with the change. "I view the transition of the company to the equity model as a very positive move that will further strengthen the fabric of our organization by putting a stronger emphasis on local ownership, which is SEKO's core competency."

Vinnie Smith, the Strategic Partner in Buffalo, agrees. "Having been with SEKO for over 26 years, I am proud to be part of an organization that has developed a model that will support future growth. What surer investment can we make than in ourselves? It's a great opportunity and I am honored to be a part of it."

While the ownership grows to include Strategic Partners and senior managers, SEKO's dynamic management team will continue in place. SEKO's newly elected Board of Directors, a combination of in-house and external executives, along with Strategic Partners, will provide vision and guide the company to attain its goal of becoming the most successful network of independent contractors and the preferred logistics solutions provider worldwide.

"Seven of the past eight years we have driven double digit revenue growth. I am proud that we were able to fulfill these commitments to our Strategic Partner network", says President and CEO Bill Wascher. "This transition helps enable SEKO to continue its accelerated growth and best in class customer service by attracting other key Strategic Partners to the SEKO network and equity group!"

About SEKO

Founded in 1976, SEKO Worldwide is a global, third-party logistics provider with 50 offices in the United States and more than 50 offices in 40+ countries worldwide. It offers a full range of supply-chain solutions including domestic and global air, ocean, and ground transportation freight forwarding, customs brokerage, trans‐border distribution, U.S. home delivery, and DC bypass shipping. To learn more about SEKO visit us at www.sekologistics.com.

MEDIA CONTACT:

Tiffany Holm

1100 Arlington Heights Rd. Suite 600

Chicago, IL 60143

630.919.4908

tiffany.holm@sekologistics.com

www.sekologistics.com