Los Angeles, CA - March 27, 2008 - The Central Valley Fund, a private investment fund focused on middle market Central Valley companies, today announced a preferred stock investment of $2.75M in Source Holding Delaware, LLC ("Source" or the "Company").
The capital will be used to assist management in expanding the Company's operating platform as they look to enhance the Company's ability to provide complete logistics solutions to Mexican and Latin American consumer product manufacturers ("CPMs") exporting product to a diverse network of U.S. retailers.
Established in 1999, Source's founders, Marcelo Sada, Raul Villarreal, and Fernando Ramirez have built the Company into a network of four strategically positioned warehouses throughout the U.S. - Atlanta, Houston, Laredo, and Los Angeles. Each provides full-service logistics solutions such as real-time web-based inventory control, value-added activities, and freight services in key end markets for Mexican and Central American CPMs.
Jose Blanco, a partner with CVF, stated, "It has been and will be a pleasure to work with the dedicated operators at Source as they refine their business model in order to capture the substantial opportunities in front of them. They have already built a solid foundation based on identifying key customer needs and fulfilling them in a highly attentive and focused manner."
Marcelo Sada, Source's President and Chief Executive Officer, remarked, "We recently reached a key inflection point in our growth as a 3PL and sought out an institutional capital provider who could both design a capital structure to support our growth and provide us with strategic support going forward. We believe CVF to be well-suited to serve those roles and look forward to growing the Company alongside them."
