Echo Global acquires One Stop Logistics Inc
Echo Global Logistics, a provider of technology enabled transportation and supply chain management services, has acquired all of the assets of One Stop Logistics, a transportation brokerage headquartered in Watsonville, California.
Effective immediately, One Stop will begin doing business as Echo Global Logistics Inc.
Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics, said: "One Stop is a profitable and impressive operator in the market for over the road transportation solutions,
"With this acquisition, we continue to position Echo for further growth by expanding our national coverage and leveraging our technology, our carrier network and our service offering.”
Founded in 1998, One Stop is a non-asset provider of both Less-Than-Truckload and Truckload solutions with offices in Northern California and Florida. One Stop brings to Echo strong sales talent and a solid network of shippers and carriers.
Steve Brown, a 15 year veteran of One Stop, will be Echo's newest Regional Vice President leading all operations of the newly acquired entity. All existing management and employees will remain with Echo subsequent to the acquisition.
Brown said: "We look forward to the additional growth opportunities available with the broad portfolio of services offered by Echo Global Logistics. Current One Stop clients and new clients alike will benefit from the full range of technology-enabled transportation solutions we are now able to provide."
During the prior twelve months, One Stop grew total revenue by approximately 14%, resulting in $50.7 million in gross revenue. Effective with this transaction, Echo are raising 2014 gross revenue guidance to a range of $1.07 to $1.13 billion.
For more information on Echo, visit: www.echo.com