CHICAGO, IL--(Marketwire) - The business formerly known as Caterpillar Logistics Services today announced a new name and corporate brand identity, Neovia Logistics Services. Neovia provides third-party logistics solutions to the automotive, industrial, mining, aerospace and defense industries.
Platinum Equity, a Los Angeles-based private equity firm, acquired a majority interest in the company from Caterpillar Inc. in July. Caterpillar retained a 35 percent equity stake.
"The new name, which translates to 'a new path,' and our brand mark expresses our forward-thinking culture as we set off on that path," said Neovia CEO Jos Opdeweegh. "The new visual identity, in which multiple geometric shapes are brought together in a simple, unified icon symbolizes the agility, flexibility and problem-solving capabilities the people of Neovia bring to our customers."
Mr. Opdeweegh was named CEO in August, has extensive experience in management and logistics in Europe, the Americas, and Asia.
"As a world-class provider of value chain solutions, we help our customers face complex challenges every day. Neovia embraces that complexity, and works tirelessly to simplify logistics," said Mr. Opdeweegh. "We know that success lies in a customer-centered approach. We will endeavor to create value and help our customers' businesses perform even better."
The company specializes in service parts logistics, and also provides solutions for maintenance, repair and operations (MRO) and manufacturing logistics.
"Neovia has a strong management team with a clear and compelling vision for the future," said Platinum Equity Partner Jacob Kotzubei. "The company has a long tradition of providing outstanding service to customers in multiple industries around the world. Our long-term plan is to help Neovia expand its service offering and further diversify its reach. We are excited about the prospects for the business and are committed to helping it achieve its full potential."
Neovia has a global footprint with approximately 97 facilities and employees in 25 countries. The business was first established by Caterpillar in 1986.
Neovia is the global, integrated logistics service provider for companies facing complex logistics challenges. Today, Neovia provides customer-centric supply chain solutions across six continents in key sectors including industrial, automotive, mining, maintenance, repair and operations (MRO), oil and gas, consumer durables, aerospace and defense, high tech and electronics, and health care. Neovia provides end-to-end supply chain solutions with specific expertise in value chain strategy, network design, and execution. The Neovia team creates and employs innovative technology and systems to provide customized services in management of warehouses, operations, inventory, and transportation, as well as inbound manufacturing, reverse logistics, and more.
A global M&A&O® firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 140 acquisitions.
Cheryl A. Cryer Director, Global Marketing and Communications