Park-Ohio unit buys supply chain management company

Filed in archive merger and acquisition on October 22, 2006

A business unit of Park-Ohio Industries Inc., a subsidiary of Park-Ohio Holding Corp. of Cleveland, has acquired for $21 million all the capital stock outstanding of NABS Inc., a Manhattan-based supply chain management company.

According to Crain's Cleveland Business, the Park-Ohio unit, Integrated Logistics Solutions (ILS), operates logistics service centers throughout North America, Europe and Asia.

In a statement, Park-Ohio chairman and CEO Edward Crawford said the acquisition "fast forwards" the unit's supply chain management business worldwide.

Besides providing supply chain logistics services, Park-Ohio produces components for various industrial original equipment manufacturers.

"The combination of a world-class management team and the addition of a blue chip customer base will dramatically accelerate ILS' long term international strategy," Mr. Crawford said. NABS has 14 international operations in Asia, Europe, India and Mexico as well as five locations in minnesota, New York and North Carolina. NABS' annual sales are about $45 million.