Industry News : Large Merger Announced

Greatwide Logistics Services, LLC (“Greatwide”) and Cardinal Logistics Management, Inc. (“Cardinal”) today announced the successful completion of a merger of the two companies, creating a market leading logistics organization offering a broad service platform with annual revenues in excess of $1 billion.

The combined company’s dedicated contract carriage and delivery division will have one of the largest, most diverse dedicated fleet operations in the country and will be uniquely positioned to provide industry leading capabilities for its customers with over $850M in annual revenue, 5,000 drivers, 125 operating locations and demonstrated expertise across multiple industries, including grocery, bulk food, retail, metals and building products. The combination of Cardinal’s expertise in high touch, final mile company truck dedicated solutions with Greatwide’s expertise deploying high service, flexible owner operator based dedicated solutions will create a compelling customer value proposition. In addition, the combined company will continue to offer customers highly customized, value-added irregular route truckload, less than truckload, full service freight brokerage, managed transportation, and warehousing services across the U.S. and Canada.

John Tague, Chairman and CEO of the combined company, said, “We are excited that this transaction creates an industry leading logistics company that is supported by a strong customer base, experienced management team, best in class company drivers and owner operators and a differentiated technology platform that enables creative, low cost solutions for our customers.”
Cardinal Logistics Management provides delivery solutions for U.S. companies coast to coast – allowing deliveries in places where companies do not have sufficient density, activity or resources to justify having their own facilities, drivers and trucks. As has been widely noted, outsourcing is now a key trend as companies look to improve service while cutting costs. Companies like Cardinal provide solutions.

Vin McLoughlin, the newly appointed Vice Chairman of the combined company, said, “Combining the strengths of Greatwide and Cardinal puts us in an excellent position to serve our customers and continue both companies’ history of providing industry-leading service.”

Will Manuel, Senior Managing Director of Centerbridge Partners, L.P. (“Centerbridge”), a leading investment firm and majority owner of the combined enterprise, commented, “We are very excited by this merger as it combines two highly complementary companies that together will be able to offer enhanced service capabilities to all of our customers.”