Greatwide Logistics Services and Cardinal Logistics Management have completed their merger, creating a company with more than $1 billion in annual revenue.
The contract carry and delivery division, which will account for more than $850 million of that annual revenue, will feature 5,000 drivers operating from 125 locations. The new company will focus on the transportation of bulk food, grocery, metals, building products and retail items.
The combined company will offer less-than-truckload, value-added irregular route truckload, managed transportation, freight brokerage and warehousing.
“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,” John Tague, the company’s new chairman and chief executive officer, said in a statement.
Tague had been CEO of Dallas-based Greatwide since 2011, when Leo Suggs retired.
Centerbridge Partners is a majority owner of the combined company. Greatwide was acquired by affiliates of Centerbridge and other investors in 2009, and in August 2012 Centerbridge acquired Concord, N.C.-based Cardinal.
Vin McLoughlin, the former chairman of Cardinal will be vice chairman of the combined company. He 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.” - Jon Ross
and Chris Dupin