Noble International, Ltd. Acquires DSI Holdings, Inc – Brief Article
Noble International, Ltd. said that it has completed, through its wholly owned subsidiary, Noble Holdings, Ltd. the acquisition of all of the outstanding stock of DSI Holdings, Inc., a Houston, Texas based company. DSI is a local and regional provider of auto parts delivery and logistic systems for new automobile dealerships and parts wholesale distributors in major U.S. cities.
Noble said DSI provides dealers and distributors a cost effective rate to handle their parts delivery needs through the use of their over 1,200 independent contract drivers. Dealers and distributors utilizing DSI’s services eliminate costs related to truck maintenance, insurance, driver payroll and driver supervision.
DSI’s initial growth was through franchise opportunities to orga-nizations wishing to provide the services in markets throughout the U.S., according to Noble. The near term growth of DSI will result from the company adding new company owned stores in major markets like Los Angeles and New York, Noble added.
The purchase price for the acquisition was $19.89 million, payable through $17.9 million in cash, and 148,422 shares of noble common stock, valued at $13.00 per share.
Robert Skandalaris, Chairman and Chief Executive Officer of Noble, said “The acquisition of DSI provides us with a very exciting opportunity to expand Noble Holdings, Ltd., our non-automotive division. DSI has successfully developed a service that has been long overdue in the distribution business. Dealers and distributors can focus their efforts on income producing opportunities and know that they have a reliable source for their parts delivery.”
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