Dynasty International was founded by Mr. Fitzpatrick in 1985, beginning as an international logistics company specializing in Far East transportation and logistics services then growing to become one of the largest consolidators and handlers of cargo in the trans-Pacific market, with offices in Boston and Indianapolis. Dynasty offers its clients expert space and freight rate negotiating, air and ocean consolidation services, a licensed custom house brokerage department, certified, bonded and CBP approved AMS and ISF filings, cargo insurance, state-of-the-art electronic visibility systems, CBP compliance training, and CBP compliance and audit services.
ULHL is the parent company of the Unique Group, founded by Mr. Lee in Hong Kong in 1983. Unique Group also started as an international logistics business and has expanded to 40 offices worldwide, providing services in 65 countries and offering a full range of supply chain solutions to major manufacturers and retailers by air, sea and road.
Dynasty and ULHL have worked closely together for nearly three decades, initially representing each other's mutual interests and needs in Hong Kong and Boston and then expanding to all of Asia and the United States. In 2004, ULHL acquired a partial ownership stake in Dynasty, further bonding the relationship.
'It is a milestone in our business cycle that this 26-year relationship with Dynasty International has culminated with our acquiring the company,' said Mr. Lee. 'Dynasty has been a leading name and resource within the Asian transportation and logistics industry for many years. Our intention is to combine Dynasty's reputation and experience with our own and attempt to expand our North American footprint. We treasure the leadership John Fitzpatrick has shown both within Dynasty and the industry and look forward to his continued professional guidance through this integration of our two companies. We also look forward to providing the New England area with the best possible customer service and international logistics services that Dynasty has so capably furnished in the past.'
Under the terms of the sale, Mr. Fitzpatrick will continue as President of Dynasty. He stated, 'I am very pleased to now be able to fully integrate ULHL's resources with our own here at Dynasty. We believe this is the best possible way to continue a seamless, guided path of growth in global logistics services that our client base desires and deserves.'
Mr. Lee and Mr. Fitzpatrick also announced that Dawn Lowry, a 16-year employee at Dynasty International, will become a minority shareholder in Dynasty and serve as Executive Vice President. Said Mr. Fitzpatrick, 'Dawn started with us many years ago in our accounting department and has proven to be an effective leader and manager in our organization. Her vision in the logistics business and commitment to customer satisfaction will greatly assist ULHL in their growth efforts in New England and beyond.'
