To recognize the gift, the School of Business will be named Richard J. Bolte Sr. School of Business during an official naming ceremony in the spring. A new sign for the school will be revealed during the ceremony.

At the families’ request, the amount of the gift will not be divulged, university spokesman Christian A. Kendzierski said.

Richard J. Bolte Sr. and his family have been lifelong supporters of the Mount and its mission of excellence in education, according to a university news release.

Bolte served on the university’s board of trustees, was the founder of BDP International, a global logistics and transportation company, and father to seven sons who attended the Mount. He was presented with an honorary Doctorate of Humane Letters for his service to the Mount in 1992.

"This generous gift is intended to enhance and support the Mount's pursuit of ethical leadership in business," Mount St. Mary's University President Thomas H. Powell said. "This gift will also strengthen and protect the Mount's commitment to its Catholic identity and develop a new program to prepare professionals for the growing field of logistics. We wholeheartedly thank the Bolte and Connors families."

Members of the Bolte and Connors families who are Mount graduates include Richard Bolte Jr., class of '79 and trustee; John Bolte, class of '82; Tim Bolte, class of '84; Frank Bolte, class of '87; Mike Connors, class of '91; Bill Connors, class of '89 and Robbie Bolte, class of '92.

"My father's example has inspired us in our business to have an active commitment to higher education and career development," Richard J. Bolte Jr. said.

"Speaking on behalf of the Bolte and Connors families, we are blessed to share, through this enduring honor to our father, a value about which he cared deeply."

William Forgang, dean of the newly named School of Business, said: "The prestige of a named school and the additional resources will help us attract and retain qualified students and faculty, and support the execution of our mission to graduate capable, methodically sound and ethical decision-makers."

The gift, along with establishing an academic focus on business logistics, will also create an annual lecture series and a national award presented to Mount graduates who demonstrate ethical leadership in business.