Yes, we wanted to move freight and we wanted to have strong partnerships, he said. Ridgemont reinvests in industry leader with expanded technology-enabled solutions for the freight and parcel markets.
I am excited to combine Worldwide Express and GlobalTranz, said Tom Madine. The opportunities for our employees, franchises and independent agents are now greatly expanded.
With an annual systemwide revenue approaching $2 billion through a network of company-owned and franchise locations, Worldwide Express, combined with Unishippers Global Logistics, LLC, is the second-largest privately held freight brokerage company in the country. At a conference devoted to the role of PE in the logistics field, Farrell was on message.
Stay up-to-date with the latest William Blair news. The transaction is sponsored by a consortium led by CVC Capital Partners as well as GlobalTranzs current lead investors, Providence Equity Partners and PSG. The price of GlobalTranz paid by Jordan in 2018 was about $400 million. I not at all believed that it can be possible but my close friend earning $25k only within four weeks simply doing this top task as well as she has satisfied me to join. Providence Equity Partners is a premier global private equity firm with approximately $45 billion in aggregate capital commitments.
CVC Capital Partners is a leading private equity and investment advisory firm with a network of 23 offices throughout Europe, Asia and the US, with approximately US$118 billion of assets under management. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. North Texas has plenty to see, hear, and watch. | Source:
The opportunities for growth by combining our resources will dramatically increase our ability to drive technology, further strengthen our carrier partnerships and allow us to provide a deeper offering to our customers.. Now theyll combine their differing strengths and focuses into a global logistics behemoth.
GlobalTranz was comfortable with leveraging its acquisitions up to seven times EBITDA, which you might think is really high, Farrell said, and on the day of an acquisition, I felt it too.. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Its really user friendly and Im just so happy that I found out about it.
Welcome to the Unishippers press room, where youll find our latest press releases and other information about Unishippers. The only thing missing in your inbox is FreightWaves. William Blair acted as a financial advisor to the consortium of CVC Capital Partners (CVC), Providence Equity (Providence), and PSG, in connection with the merger of Worldwide Express, a portfolio company of Ridgemont Equity Partners, and GlobalTranz, a portfolio company of Providence and PSG. Worldwide Express and GlobalTranz to Join Forces
GlobalTranz is a full-service third-party logistics provider, bringing award-winning customer service, exceptional industry expertise and market-leading technology to shippers, carriers, and logistics service providers. Worldwide Express is a full-service, non-asset-based logistics provider offering more than 92,000 customers access to industry-leading small package, truckload and less-than-truckload shipping solutions around the world. GlobalTranz; Worldwide Express It has a customer base of 25,000 shippers.over one million product users.
And while the talks between Farrell and Worldwide executives may have been off and on for several years, Farrell said GlobalTranz got particularly interested when it learned in the spring of this year that Worldwide was running a process., The prospect of bringing GlobalTranzs truckload and LTL business under the same roof as the parcel business of Worldwide was attractive. The combination will create an industry leader with unique technology capabilities and market-leading solutions for the freight and parcel markets.
This, coupled with a selective portfolio of 65+ LTL and tens of thousands of truckload carriers, provides clients with an unmatched range of options and flexibility to meet their shipping needs. That $30 million EBITDA milestone came in 2018. klineberger@ridgemontep.com, Ridgemont invests in combination of Worldwide Express and GlobalTranz, Internet Explorer presents a security risk. The FREIGHTWAVES TOP 500 For-Hire Carriers list includes U.S. Xpress (No.
Since the firm's inception in 1989, Providence has invested in over 170 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries.
Ryders last-mile business gets huge boost in acquisition of Whiplash, U.S. Xpress fires head truckload exec and leader of Variant, Truckload carrier Stan Koch will pay $500K in sex discrimination case. The combined company will also have unique data assets and business intelligence capabilities to provide its customers with visibility and analytics to deliver competitive advantage. Current Worldwide Express lead investor Ridgemont Equity Partners, along with both Worldwide Express and GlobalTranz management, will also retain a significant stake in the combined entity.
Madine says the opportunities for Worldwide Expresss employees, franchisees, and independent agents are now greatly expanded with a goal of continuing to build Worldwide into a much larger business.
The opportunities for growth by combining our resources will dramatically increase our ability to drive technology, further strengthen our carrier partnerships and allow us to provide a deeper offering to our customers. We told our employees we were a technology company and we invested that way, he said.
News travels fast. And so GlobalTranz was sold again. We had a lot of different conversations on how it would look, Farrell said. The involvement of PE in the various ownership deals involving GlobalTranz was the good, Farrell conceded. In any merger of 3PL companies, Farrell said technology is a challenge.
Since the firm's inception in 1989, Providence has invested in over 170 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries.
It will continue to go to market both directly and indirectly (via franchisees and independent freight agents) and to serve a customer landscape that spans from small and medium-sized businesses (SMBs) to larger enterprises. Im using an online business opportunity I heard about and Ive made such great money. Having backed more than 65 companies and facilitated over 300 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. She left the company in September 2020, and Farrell took over again. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. PSG is a growth equity firm that partners with middle-market software and technology enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. The story of [the combined company now] is that it has well over $5 billion in revenue, Farrell said. GlobalTranz is a full-service third-party logistics provider, bringing award-winning customer service, exceptional industry expertise and market-leading technology to shippers, carriers, and logistics service providers. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. Bob Farrell of GlobalTranz told a conference sponsored by the Benesch law firm that private equity is about turning intentions into reality. And with the backing of CVC Capital Partners, that happened this year when truckload/LTL-focused GlobalTranz merged with Worldwide Express, creating a logistics giant that has significant parcel capabilities through Worldwide and the longer-haul business that GlobalTranz has long been known for. GlobalTranzs people-powered approach combined with comprehensive, relationship-driven support provides shippers of all sizes with fast and reliable, multi-modal transportation services as well as strategic supply chain solutions enabling them to optimize efficiency and deliver on business goals.
As always, things may change at any time, so be sure to check the official website or registration page for the latest details. Former Georgia Congressman Kwanza Hall says theres a need to add 4.6 million new housing units to the countrys stock over the next 10 years, but the U.S. is falling short of that goal by about 250,000 units per year. A collaboration of the Dallas Regional Chamber and Dallas Next, Dallas Innovates is an online news platform covering what's new + next in Dallas - Fort Worth innovation.
The combination of Worldwide Express and GlobalTranz brings together two companies that have distinguished themselves with innovative logistics solutions and technology, Breitner said in the statement.
2323 Victory Avenue, Suite 1600 Both companies have developed leading positions across multiple sales channels, strong carrier partnerships and superior customer service. Leveraging its extensive independent agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 1 million product users and 25,000 shippers. Terms of the deal were not disclosed.
There are companies that show up with a playbook and say, on Page 3, this is what were going to do, Farrell said. Tom Madine, CEO of Worldwide Express, will lead the combined company as CEO. While the merger between Worldwide Express and GlobalTranz was led by CVC Capital Partners, investors who owned the individual companies continue to have stakes in the new company. The ultimate road warrior has been born. Figures represent the Worldwide Express, LLC, family of brands. To learn more about the brands, please visit www.wwex.com and www.unishippers.com. PSG is a growth equity firm that partners with middle-market software and technology enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. I tremendously appreciate the strong partnership we have had with Ridgemont and am excited to work with CVC and Providence as we continue to build Worldwide Express into a much larger business., The combination of Worldwide Express and GlobalTranz brings together two companies that have distinguished themselves with innovative logistics solutions and technology, said Cameron Breitner, Managing Partner at CVC.
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This, coupled with a selective portfolio of 65+ LTL and tens of thousands of truckload carriers, provides clients with an unmatched range of options and flexibility to meet their shipping needs.
We took stock of all those things and recognized that while there were great synergies on pricing and technology, there was a lot of value to go to the market with separate brands, Farrell said. Dechert LLP, Weil, Gotshal & Manges LLP, and Kirkland & Ellis LLP served as counsel for CVC, Providence, and Ridgemont respectively. The third party logistics providers (3PLs) Worldwide Express LLCandGlobalTranz Enterprises LLC are continuing with their plans to merge through an acquisition of both firms by a consortium of private equity investors.
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