Investcorp, the global alternative investment group, announced today that it has acquired Greatwide, one of the largest North American transportation and logistics services companies.
The US trucking market is worth $623 billion per year as trucks are the dominant method of freight transport in that country. The US logistics market is estimated at $104 billion, and there is a strong trend towards the outsourcing of logistics. Greatwide provides innovative supply chain services to its customers through its product offerings that cover ground transport, warehousing and logistics. Its unique non-asset business model enables the company to be nimble and responsive with a highly flexible cost structure.
Greatwide has one of the largest North American networks with 5,300 truck operators, 400 independent sales agents, 20,000 third-party brokered carriers and 3.2 million square feet of warehouse space. It has a customer base that includes household name grocers, food distributors and retailers such as Wal-Mart, Target, Coca-Cola Walgreens and Nordstrom.
Investcorp’s Chief Operating Officer, Gary Long, said: “We believe Greatwide will enjoy favourable industry growth trends and profit from the increasing desire of companies to establish long term relationships for integrated supply chain requirements. The company is well positioned to benefit due to its flexible business model, depth of service offerings, exclusive distribution network, technology platform and blue chip client base.”
