We are pleased to announce that effective Wednesday, July 9, 2014, Field and HRS Logistics have merged. This strategic partnership will enhance both our positions in the marketplace by expanding the products, services, and geographical footprint in which we service our customers.
There is great synergy between our two companies. Both Field and HRS Logistics have similar cultures that place a high value on our team, our customers, and our suppliers. Our cultures are family focused, goal-oriented, and success driven. We are excited about the opportunity of expanding the products and services offered to our customers and the ability to provide more technical services to drive short and long term cost savings. As a result of the merger, there will also be a great opportunity for our supply partners to grow their business with us.
Field has averaged 20% growth year over year since 1990 with plans to sustain this growth to reach $100 million in revenue over the next few years. This plan includes organic growth as well as growth through mergers and acquisitions. “We are all about building and strengthening teams to provide value to current and prospective customers. The combined strength of HRS Logistics and Field will allow us to excel and provide significant benefits to both,” states Field’s Chairman Bill Derry. “We are fired up about the future.”
HRS Logistics is a global provider of fasteners and other ‘class c’ items servicing customers throughout the South/Southwest and in Mexico. They are a rapidly growing company that has achieved a 155% growth rate over the last 4 years and has a proven track record for outstanding performance with their customers. “HRS Logistics is pleased to have merged with such a strong and well respected company in our industry, “says Ray Robinson President of HRS Logistics. “With Field and our experienced and dedicated employees, we will better serve and supply our customers for now and the future”.
The merger of Field and HRS Logistics is the top priority for both organizations. We have an experienced cross functional team dedicated to seamlessly integrating our businesses and minimizing the change felt by our customers, suppliers, and team members.
Field President Jim Derry states, “There are significant synergies between the companies that will improve both organizations when combined. Both companies share a culture of servicing customers in a family business environment with passionate team members. The combined company will provide greater opportunities for our team, increased capabilities for our customers, and a larger spend with our strategic suppliers. We are excited about bringing the strengths of Field and HRS together!”
We, at Field, are delighted with our new venture and look forward to passing on the benefits of this new partnership to our customers, suppliers, and team members.