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American Pacific Forwarders (APF)
Founded nearly 50 years ago, American Pacific has been a stalwart in the California drayage industry. American Pacific has built a strong reputation in domestic rail and international harbor drayage, regional truckload services, and dedicated distribution. The company was headquartered in Chino and also operated in Calexico, Commerce, Lompoc, and San Diego.
A strategic acquisition and end of an era
For IMC, the expanded fleet and increased resources obtained by the acquisition will enable APF to serve its existing customers better and attract new business. Adding two new locations in Lompoc and Calexico, California, will provide IMC with greater operational flexibility and the ability to offer more comprehensive coverage across the state.
For the owners of American Pacific, the sale of their business represented the culmination of decades of leadership in the Southern California transportation industry and hard work by two generations of family ownership.
Ensuring Smooth Transitions and Client Protection
Larson & Gaston attorneys ensured that contracts and agreements were meticulously reviewed and properly designed to protect our clients and maximize the benefits of the deal. In the case of American Pacific, a top priority was to safeguard our clients’ interests while maximizing their return on their deal and minimizing their exposure. We worked closely with our clients’ accounting and tax professionals to make sure that all aspects of the deal are carefully considered.
In an asset sale such as this, another important goal was to make sure that the owners of American Pacific were as protected as much possible from decisions made regarding use of the transferred American Pacific assets and the former employees who now would be hired by IMC.
Acquisitions of large, complex business like American Pacific are time-consuming and involve a large number of leases, board resolutions, employment agreements, vendor and customer contracts, and other ancillary documents in addition to the main asset purchase agreement.
Having a law firm experienced in mergers and acquisitions is crucial for protecting your interests and maximizing business deals. It is essential to have legal counsel who stays updated with current laws that can affect your acquisition and is proactive in contracts and agreements to protect your interests. For more information contact Larson & Gaston.