Echo Signs Definitive Agreement to Acquire Roadtex Transportation Corporation
Echo Global Logistics Signs Definitive Agreement to Acquire Roadtex Transportation Corporation
The deal brings a national warehouse footprint and advanced temperature-controlled transportation solutions to Echo while providing Roadtex's customers with truckload brokerage and expanded transportation management solutions
CHICAGO and SOMERSET, N.J., May 5, 2022 /PRNewswire/ -- Echo Global Logistics, Inc. ("Echo"), a leading provider of technology-enabled transportation and supply chain management services, and Roadtex Transportation Management, Roadtex Transportation, and Roadtex Corp ("Roadtex"), a leading provider of integrated temperature-controlled supply chain solutions, today announced that they have signed a definitive agreement for Echo to acquire Roadtex.
"We've been following Roadtex and are very impressed with their capabilities," said Doug Waggoner, Chief Executive Officer of Echo. "With this transaction, Echo not only adds a national warehouse footprint but also broadens its temperature-controlled service offerings and customer base."
"Roadtex brings an expertise with temperature-controlled deliveries into big box retail that few can match," said Dave Menzel, President and Chief Operating Officer at Echo. "Not only will this help Echo expand in this area, but we are also bringing on an experienced, well-regarded management team led by co-founders Bruno Ciacciarelli and Bob Kelly, and we are excited about the opportunity to partner with them."
Through an integrated, national, value-added warehousing and distribution ("VAWD") network including 32 strategically located food grade cross dock facilities, 5 of which are VAWD facilities that provide a suite of contract logistics solutions, Roadtex's network covers 85% of the U.S. population within a 24-hour shipping period.
"We are excited to have our dedicated team of professionals join the Echo family," said Bruno Ciacciarelli, Co-Founder, Head of Transportation & Administration at Roadtex. "As we have gotten to know the Echo team it was clear our cultures are very similar, and the benefits to joining the Echo team would be substantial for our team members and clients."
Roadtex delivers customized, end-to-end solutions that exceed the stringent pickup, handling, delivery and chain of custody requirements of customers serving attractive, recession-resistant end markets with favorable, long-term growth prospects.
"Because Roadtex interacts with 100% of the top 10 big box retailers on a daily basis, we have long-standing relationships and expertise that we look forward to bringing to Echo," said Bob Kelly, Co-Founder, Head of Sales & VAWD at Roadtex. "The opportunity to offer these services and our national warehouse footprint to Echo's clients, while Bruno and I continue to lead Roadtex, will unlock significant synergies."
Stifel served as the financial advisor to Roadtex. Kirkland & Ellis, LLP served as legal advisor to Echo. Zukerman Gore Brandeis & Crossman, LLP served as legal advisor to Roadtex.
About Echo Global Logistics
Echo Global Logistics, Inc. is a leading Fortune 1000 provider of technology-enabled transportation and supply chain management services. Headquartered in Chicago with more than 30 offices around the country, Echo offers freight brokerage and Managed Transportation solutions for all major modes, including truckload, partial truckload, LTL, intermodal, and expedited. Echo maintains a proprietary, web-based technology platform that compiles and analyzes data from its network of over 50,000 transportation providers to serve 35,000 clients across a wide range of industries and simplify the critical tasks involved in transportation management. For more information on Echo Global Logistics, visit: www.echo.com.
About Roadtex Transportation Corporation
Roadtex Transportation Corporation is a leading nationwide provider of integrated temperature-controlled supply chain solutions to the confectionery, food, nutrition, and pharmaceutical mass retailer end-markets. Founded in 1992 and based in Somerset, New Jersey, Roadtex maintains a base of 32 strategically located food grade cross dock facilities, 5 of which are VAWD facilities that provide a suite of contract logistics solutions. Roadtex supports a diverse group of blue-chip clients, managing their time and temperature sensitive product shipments. For more information on Roadtex visit: www.roadtex.com.
SVP of Marketing
Echo Global Logistics
SOURCE Echo Global Logistics, Inc.