Acquisition of North Bergen Based Company ‘Vecco Services’ Announced
Wind Point Partners and portfolio company STG Logistics (“STG”), a leading provider of third-party logistics, announced that they have…
Wind Point Partners and portfolio company STG Logistics (“STG”), a leading provider of third-party logistics, announced that they have expanded its presence on the east coast of the United States with the acquisition of Veeco Holdings (“Veeco” or the “Company”) in North Bergen, NJ.
Veeco’s management will continue with the business and will join STG as senior members of its operations team. STG plans to consolidate the majority of its New Jersey operations into Veeco’s existing footprint by the end of the first quarter of 2020.
“The acquisition of Veeco represents STG’s continued dedication to growing our presence in one of the most important import/export geographies in the country,” said Greg Muldoon, Chairman of STG.
Founded in 1968, Veeco is a leading provider of comprehensive logistics solutions focused on the gateway ports of New York and New Jersey. Veeco provides container freight station services (“CFS”), a variety of contract logistics and distribution (“CLD”) solutions, as well as a broad suite of ground transportation and 3PL services. The Company operates three facilities, including a flagship location in North Bergen, NJ. Similar to STG, Veeco’s diversified customer base includes freight forwarders, neutral NVOCCs, manufacturers, distributors, retailers, and a variety of 3PL providers.
“We welcome the employees of Veeco to the STG family and we are excited about the growth opportunities this combination will unlock for the collective employee base,” said Geoff Anderman, Chief Financial Officer of STG
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