Echo Global Logistics, Inc. Acquires Shipper Direct Logistics, Inc.
CHICAGO, July 26, 2012 (GLOBE NEWSWIRE) -- Echo Global Logistics, Inc. (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. ("Shipper Direct"), 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 Global Logistics, 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. For more information on Echo, visit: www.echo.com .
This release contains statements relating to future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of our Form 10-K for our most recently completed fiscal year.
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CONTACT: INVESTOR RELATIONS CONTACT: Suzanne Karpick, Echo Global Logistics, (312) 784-7414 MEDIA CONTACT: Hanni Itah, SSPR, (847) 415 - 9324
Source: Echo Global Logistics, Inc. 2012 GlobeNewswire, Inc.