[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Mostly clear
Mostly clear
52°F
 
Calendar
Today in
S.C.V. History
May 20
1946 - Cher, great-granddaughter of Placerita Canyon homesteader Frank Walker, born in El Centro, Calif. [story]


Valencia-based AMS Fulfillment, a recognized leader in third-party fulfillment, announced Friday that it has sold a majority stake of the business to Fort Point Capital of Boston, a private equity firm that specializes in the logistics industry.

Fort Point Capital will step in as a resource to help AMS expand in the rapidly growing and competitive sector of e-commerce, warehousing and fulfillment.

AMS’ previous owners, CEO Ken Wiseman, President Jay Catlin and Chairman of the Board David Catlin will continue to have ownership in the business. Raymond James Investment Banking represented AMS as the sell-side advisor in this transaction.

AMS executives have been considering this change for several years, and all are excited to begin a new stage of growth. Ken Wiseman, who has been CEO for the past 15 years, will be stepping down from some of his responsibilities in order to follow his passion for community service and volunteerism.

At AMS Wiseman will continue his groundbreaking and nationally recognized work in employee engagement and workforce development, serving as AMS’ Chief Workforce Development Officer.

One of Fort Point Capital’s key focus areas is in the logistics industry, and their interest in AMS is timely, as e-commerce fulfillment and logistics is a rapidly growing sector of the global economy. Their intention in taking on majority ownership is to help fund and manage the growth of AMS as a platform for third-party fulfillment and expand the business to meet the needs and opportunities of the time.

Fort Point Capital also looks forward to continuing AMS’ achievement of B-Corp Certification and the company’s outstanding work as a Social Enterprise.

Fort Point Capital Principal Christina Pai will serve as Chairperson of the Board. Jay Catlin will be stepping into the CEO role, and Betty-Lou Wiseman, who has been with AMS for 15 years serving as the EVP of Client Services, will be promoted to president of AMS.

Speaking about the changes in his future, Ken Wiseman said: “As I step down from my CEO role, I look forward to having more time for the community ventures I’m involved in including the SCV Sheriff’s Foundation, Search & Rescue, SCVEDC, and the Mayor’ Committee for the Employment of Individuals with Disabilities. My professional time will be more focused on myriad employment hiring and training programs we are doing with the county, state and various agencies to continue to provide employment opportunities to those struggling to enter, or re-enter the workforce.”

Moving into the CEO role, Jay Catlin offered his thoughts about AMS: “We’ve had nearly 17 years of amazing experience and growth at AMS, and together as a team we have evolved into a quality-driven top tier provider of complex fulfillment solutions. Now is the right time for us to partner with a great firm like Fort Point to provide us the leadership and additional resources we need to build AMS into a powerhouse global fulfillment provider. A large number of viable potential partners courted us as we went about the selling process, and Fort Point stood out as the best fit on many levels, especially the cultural fit which is so vital to our business and our employees.”

Betty-Lou Wiseman, who will be taking on the role of president, said: “I feel like my responsibility of overseeing the client service team, the set-ups and high-level oversight of their accounts, along with the daily interactions with clients, have well prepared me for the expanding responsibilities of the President role. I’m very excited to be a part of AMS’ growth and national expansion, and proud of what we’ve accomplished to date as a team.”

AMS’ new Chairperson of the Board, Christina Pai, joined Fort Point Capital in 2011 as a Vice President and was promoted to Partner in 2015.

In commenting about the acquisition of AMS, Christina noted: “We are very excited to partner with the AMS team. They have built a compelling platform in the consumer products fulfillment space and have done a remarkable job serving the company’s impressive customer base while developing a loyal, well-trained team of employees. We look forward to continuing to invest in support of management’s vision for growth through initiatives such as augmenting the team to support growth, introducing new technology to drive efficiencies and expanding AMS’ geographic footprint.”

AMS employees shared in the excitement of the decision as they look forward to future growth. AMS executives, in appreciation of the more than 300 employees, offered to all an unexpected financial bonus, which was received with delight and gratitude.

About AMS Fulfillment
AMS Fulfillment is a leading full-service order fulfillment company operating as a third-party resource for order management, fulfillment center management and complex fulfillment services. AMS provides a full suite of fulfillment and distribution services to consumer products companies focused on serving the B2B retail (brick-and-mortar), online retail, and direct-to-consumer channels. The company operates four fulfillment centers in the Valencia, California area with approximately 550,000 square feet of space in the full network. For more information about AMS, visit www.amsfulfillment.com.

About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, business services companies in partnership with strong management teams. Fort Point Capital is currently investing from FPC Small Cap Fund II. Contact Fort Point at 617-303-2121 or visit www.fortpointcapital.com.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
1946 - Cher, great-granddaughter of Placerita Canyon homesteader Frank Walker, born in El Centro, Calif. [story]
1851 - San Fernando-San Francisquito-Eliz. Lake Roads become public highways [story]
wagon
1978 - Concert scene for "KISS Meets the Phantom of the Park" filmed at Magic Mountain [story]
KISS
The California Department of Transportation will continue nightly lane closures next week on portions of State Route 14 for a $6.6 million pavement rehabilitation project to improve the condition of the lanes and create a smoother ride for motorists.
May 20-25: Nightly Roadwork on Highway 14 to Roll On
Curtiss-Wright’s Defense Solutions division, a trusted leading supplier of rugged systems for aerospace and defense with a facility in Santa Clarita, will be a sponsor of the Santa Clarita-to-Pasadena leg of the Amgen Tour of California on Saturday, May 18.
Curtiss-Wright to Sponsor Santa Clarita-to-Pasadena Leg of Amgen Race
The city of Santa Clarita will host two additional public meetings on Thursday, May 30, for residents to have the opportunity to provide feedback on the proposed plan to build an inclusive play area at Canyon Country Park.
May 30: Public Meetings on Inclusive Play Area at Canyon Country Park
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, May 21, starting at 9:30 a.m.
May 21: LA County Board of Supervisors Meeting
The Santa Clarita Planning Commission will consider approval of Verizon's request to build a new wireless communications facility at Copper Hill Road and San Francisquito Canyon Road at its next regular meeting on Tuesday, May 21, starting at 6 p.m.
May 21: Santa Clarita Planning Commission to Consider Wireless, Jobs Boost
The seventh inning turned out to be the difference Thursday night, as Rancho Cucamonga scored four unearned runs en route to a 7-2 win over the JetHawks at The Hangar.
Lancaster Loses Series Finale to Quakes
LA County Animal Care and Control will participate in Best Friends NKLA's Super Adoption event at Warner Park in Woodland Hills on Saturday and Sunday, May 18-19, from 11 a.m. to 6 p.m.
May 18-19: NKLA, County Animal Care Team for Super Pet Adoption Fair
Congresswoman and LGBT Equality Caucus Co-chair Katie Hill voted Thursday in support of the Equality Act, H.R. 5, which passed the U.S. House of Representatives in a bipartisan vote of 236-173.
Hill, House Pass Equality Act Protecting LGBTQ Americans
The Los Angeles County Probation Department’s 2018 Annual Report was released Friday.
LA County Probation Dept. Issues Annual Report
U.S. Rep. Katie Hill celebrated National Police Week by working across the aisle on a law enforcement legislative agenda, commemorative Special Order Hour on the floor of the U.S. House of Representatives, and bipartisan press conference addressing a new bill to support police.
Hill Commemorates National Police Week, Fallen CHP Officer
Not even the weather could stop The WiSH Education Foundation's "Wine on the Roof" fundraising event at the Westfield Valencia Town Center mall Thursday night.
WiSH Education Foundation Hosts 2nd Annual ‘Wine on the Roof’
The Trump administration said Thursday it would pull nearly a billion dollars in federal funding for California’s much-maligned high-speed rail project, terminating an agreement that previously awarded the Golden State another $2.5 billion for the plan.
Feds Cancel Nearly $1 Billion for California High-Speed Train
The California Senate Appropriations Committee has given the green light to measures by Sen. Scott Wilk addressing foster youth enrichment grants, homelessness and treatment/probation for individuals convicted of animal abuse.
Wilk Measures on Homelessness, Animal Abuse, Foster Youth Head to Vote
In another setback for groups fighting to stem California’s housing crisis, a proposal meant to spur new apartments near popular transit centers died silently in committee Thursday.
Transit-Friendly Housing Bill Shelved in Sacramento
Catholic bishops in California have announced the establishment of a new compensation program that will be available to any person who has been sexually abused as a minor by diocesan priests of the participating dioceses, no matter when that abuse might have occurred.
California Catholic Dioceses Announce New Compensation Program for Sex Abuse Victims
1993 - Dale Poe, 61, developer of Stevenson Ranch, killed in car crash [story]
Stevenson Ranch fountain
Here is the list of Santa Clarita arts-related events for Friday, May 17 - Wednesday, June 5:
May 17-June 5: Santa Clarita Arts Calendar
At one point during last month's Golden State Athletic Conference championship, someone asked Robert Penalber what he was shooting through 15-odd holes.
TMU’s Penalbar Sets Sights on NAIA Nationals
LANCASTER – The University of Antelope Valley is pleased to welcome Nicole Brouillard as the new head coach for its women's volleyball program.
Nicole Brouillard Named UAV’s New Head Women’s Volleyball Coach
Los Angeles County Supervisor Janice Hahn secured $700,000 of Measure H funds Tuesday to hire and train 22 peer navigators who will be stationed at every community college in Los Angeles County.
Measure H Funds to Go Toward Peer Navigators for Homeless College Students
There are only a handful of therapists in Los Angeles who specialized in working with individuals with autism.
CSUN, Ed Asner Family Center Partner to Train Autism Therapists
The 2nd Annual Yoga Kula Festival will take place Saturday, June 1, from 7:45 a.m. - 12:30 p.m.
Yoga Kula Festival to Benefit Hart Park, Bridge to Home, SCV Youth Project
The Museum of Contemporary Art Santa Barbara (MCASB) presents the West Coast solo debut of James Benning: Quilts, Cigarettes & Dirt (Portraits of America), which runs from Thursday, May 16 to Sunday, July 14
Longtime CalArts Faculty Member James Benning Debuts Santa Barbara Exhibit
LANCASTER – The Rancho Cucamonga Quakes were too much for Lancaster to handle Wednesday night, as the JetHawks fell, 18-8, at The Hangar.
Quakes Prove Too Much for JetHawks
LOS ANGELES – Because of the recent rainfall, Los Angeles County Health Officer, Muntu Davis, MD, MPH, is cautioning residents who are planning to visit Los Angeles County beaches to avoid swimming, surfing, and playing in ocean waters around discharging storm drains, creeks, and rivers.
Advisory Issued for All Los Angeles County Beaches
The city of Santa Clarita has been recognized by the Construction Management Association of America’s (CMAA) Southern California chapter with a 2019 Project Achievement Award for the City’s 2017-18 Annual Overlay and Slurry Seal program.
City Lauded for Annual Overlay & Slurry Seal Program
A panel of judges has selected the recipes, including one from Newhall resident Merry Graham, that will be represented in the sixth National Festival of Breads, sponsored by Red Star Yeast, King Arthur Flour and Kansas Wheat. The baking competition will be held June 8, 2019, in Manhattan, Kansas.
Newhall Resident Selected as Finalist for National Bread Competition
After 36 years as an established, trusted community leader in the core areas of housing, community development, and economic development, the Community Development Commission/Housing Authority of the County of Los Angeles (CDC/HACoLA) is excited to announce that it has rebranded itself as the Los Angeles County Development Authority (LACDA).
County’s Housing Authority Rebranded to Better Serve Residents, Partners
SACRAMENTO - State Sen. Scott Wilk, representing the 21st Senate District, announces that Senate Bill 153 (SB 153), a measure to ensure California is well positioned to begin the cultivation of industrial hemp, has cleared the Senate Appropriations Committee and will now go to the floor for consideration.
Wilk Measure Expanding CA’s Industrial Hemp Heads to Senate Floor
RIVERSIDE — The Cougars track & field program is sending three student-athletes to the California Community College Athletic Association (CCCAA) State Championship meet this weekend.
Cougars Track & Field Sends 3 Student-Athletes to State Championships
The rainy morning commute has caused two separate collisions near the Newhall Avenue exit and northbound Highway 14.
Rain Triggers Separate Collisions Near Newhall Avenue Exit
SACRAMENTO - State Assemblywoman Christy Smith, Chair of the Joint Legislative Committee on Emergency Management, facilitated an Informational Hearing on Tuesday
Smith Facilitates Hearing on Wildfire Preparedness
Medical examiners identified the body of a man found deceased at the Placerita Canyon Nature Center on Wednesday.
Medical Examiners Identify Santa Clarita Man Found Dead at Nature Center