LORONAR HEADQUARTERS — Loronar Corporation subsidiary Plexgrove Combine Inc. (GSE: PCI) is acquiring Star Access, Incorporated (GSE: SAI.P), a leading non-asset based third party logistics provider to the hypermatter and rhydonium industries, from Galactic Capital Partners, Inc. Maleeki Zaderai, Chairman and CEO of Plexgrove Combine, Inc. said, “Star Access Inc. is a high quality business with consistently strong financial performance that fits well within PCI. We are delighted to partner with G’rsa Sias, CEO, and its current management team.”
“The Star Access team is excited to join the Plexgrove Combine’s family of businesses,” commented G’rsa Sias, Chief Executive Officer of Star Access Inc.
“We are very pleased to have worked with G’rsa Sias and his management team to grow the business over the past seven years,” said Rex Himasi, a Principal in Galactic Capital Partners’ Specialty Industrials practice. “During our partnership we entered new markets and expanded into further service lines through organic initiatives and acquisitions. Star Access is a great fit with the Plexgrove Combine and we wish them further success.”
“Star Access is built on a longstanding tradition of excellence and an unrivaled commitment to serving the galaxy’s fuel industries.” said Xior Sorath, Vice President and COO of PCI parent company Loronar Corporation. “G’rsa Sias and his team have created an industry leader and a key enabler of the galaxy’s economy. SAI has a smart growth strategy in place and we look forward to a partnership that supports their industry for years to come. I have the utmost confidence in Maleeki’s ability to partner effectively with G’rsa in the coming days to manage the transition.”
About Plexgrove Combine Inc.:
The Plexgrove Combine and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight transportation, finance, manufacturing, retailing and services. Plexgrove Combine Inc’s common stock is listed on the Galactic Stock Exchange, trading symbol PCI.