Echo Global Logistics – ECHO – Acquires Shipper Direct Logistics, Inc.
Echo Global Logistics, Inc. (Nasdaq:ECHO), a leading provider of technology-enabled transportation and supply chain management services, has acquired substantially all of the assets of Shipper Direct Logistics, Inc., a truckload transportation brokerage located in Nashville, TN. Effective immediately, Shipper Direct will begin doing business as Echo Global Logistics, Inc.
Founded in 1989 by Billy and Angela Suddarth, Shipper Direct is a non-asset based transportation service provider that specializes in truckload solutions for the Southeastern and South Central United States. With this acquisition, Echo expands its sales organization, and customer and carrier relationships, while further developing its geographic footprint in these important regions.
“The Shipper Direct organization possesses a track record of servicing mid-sized and larger shippers. The company will also contribute to our network of strong carrier relationships,” said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. Waggoner continued, “We believe the Shipper Direct team fits well with the Echo culture, while bringing experience and talent to help the combined companies grow.”
“Shipper Direct is excited to join the Echo team,” said Billy Suddarth, CEO. Added Angela Suddarth, President, “The technology, sales support and service offering that Echo offers will enable us to increase our market share and the level of service we deliver to clients.” Both Billy and Angela Suddarth will continue with Echo as Regional Vice Presidents. Echo has retained the entire Shipper Direct workforce in connection with this acquisition.
During the prior 12 months, Shipper Direct had approximately $18 million in gross revenue.
About Echo Global Logistics – ECHO
Echo Global Logistics (ECHO), based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients’ transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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