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Warehouse Services Inc. to Acquire Total Logistics, Inc.

Mt. Vernon, October 29, 2021 – Warehouse Services Inc. (“WSI”), a privately held warehouse services company and third-party logistics provider, announced it has acquired Oakdale, MN based Total Logistics, Inc. (“TLI”). TLI is a leading provider of business-to-business (B2B) last mile logistics, brokerage and value-added warehousing in the Midwest and Mid-Atlantic regions. TLI operates high-touch, highly engineered route-based distribution and return networks for clients in the aftermarket automotive, retail and construction markets.

The deal is expected to add approximately $150 million in annual revenue to WSI in 2022 and will deepen its presence in the Midwest.

“TLI is a very targeted acquisition for us,” said Barry Cox, President of WSI. “The company expands our service offering in the automotive vertical, making us a critical supply chain partner to numerous blue-chip customers. Moreover, the acquisition solidifies our competitive presence in key Midwestern states.”

“We are excited to join WSI,” said Tom Wintz, President of TLI, who will remain in that leadership role post transition. “There is a strong shared culture of emphasizing the customer, focusing on safety, as well as taking care of our employees. In addition, the enhanced scale of WSI’s operations is expected to create revenue and cost savings opportunities which will benefit both organizations.”

Wofford Advisors LLC served as WSI’s strategic advisor for the deal and Farmer Scott Ozete Robinson & Schmitt, LLP acted as legal counsel. [Stephens Inc.] served as financial advisor to TLI and Farmer Scott Ozete Robinson & Schmitt LLP acted as legal counsel.

About Warehouse Services Inc.
Warehouse Services Inc. is a privately held warehouse services company and third-party logistics provider with corporate headquarters in Piedmont, South Carolina. It has been in business since 1986 and has averaged 16% growth since the inception. The company operates in 18 states and Canada, manages more than 18 million square feet and employs over 4,000 employees.
www.warehouseservices.com

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Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



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