Send The Light Distribution Completes Management Buyout from Parent Company Biblica
March 19, 2012
Send The Light Distribution today announced that it has completed its management buyout from parent company Biblica, a global Bible ministry serving 55 countries worldwide. The deal has been in the works for several months after Biblica announced plans to sell STL Distribution back in 2010. Financial details of the buyout were not disclosed, although the terms of the deal do require full payment to all 600 vendors who provide product to STL.
“We have been working on this buyout since last fall and we’re pleased that it is now complete. We will begin work to build on the strong foundation that’s been established and focus on operating and growing the business while serving the needs of our retail partners and the vendors who supply them,” said Glenn Bailey, President of Send The Light Distribution.
Based in Elizabethton, Tenn., Send The Light Distribution is one of the nation’s largest distributors of Christian products serving more than 10,000 customers nationwide, offering next-day and two day service to most of the United States. The company employs a total of 135 people between its 192,000-square-foot Tennessee warehouse and its west coast warehouse in Sparks, NV. The company also has a Great Value Books division in Waynesboro, GA that serves international customers by shipping containers via ship.
“We have been looking for a buyer for STL Distribution since we decided to streamline our organization to really focus on our Bible Translation and Bible Engagement ministry efforts,” said Biblica CEO Doug Lockhart. “When the management team approached us with their interest to buy, we listened and are glad to have been able to work out this deal. We look forward to continuing to work with the Send The Light Distribution team as their customer and as a supplier moving forward. We wish the entire team great success as they move forward under this new ownership structure.”