Echo Global Logistics, Inc.
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Echo Global Logistics, Inc. - overview
Established
2005
Location
Chicago, IL, US
Primary Industry
Outsourcing
About
Based in Illinois, US, Echo Global Logistics, Inc. is a freight transportation arrangement company that was founded in 2005 by Erik Lefkofsky and Brad Keywell. In October 2009, Echo Global Logistics, Inc. completed raised USD 79.
8 million in an IPO, selling 5. 7 million shares at USD 14 per share on the Nasdaq Global Market under the ticker symbol ECHO. As of September 2021, the company has expanded with offices across the USA, employing more than 2,500 staff members, with Doug Waggoner as its CEO. In the same month, Echo Global Logistics, Inc.
agreed to be taken private with The Jordan Company acquiring the firm for an equity value of approximately USD 1. 3 billion. Echo Global Logistics, Inc. mainly operates as a business process outsourcing services provider that utilizes technology to provide transportation and supply chain management services.
The company has a self-service web portal and mobile app that leverages artificial intelligence, machine learning, and advanced load matching algorithms to quote, book, and track LTL (Less than truckload freight shipping) shipments as well as manage invoices. In 2020, the company generated USD 2. 51 billion in revenue. It mainly generates revenue through the sale of brokerage and transportation management services.
Following the agreement in September 2021 to be taken private by The Jordan Company, Echo Global Logistics, Inc. intends to use the private equity firm's additional financial resources and expertise to continue the company's technology and data science platform development.
Current Investors
Primary Industry
Outsourcing
Sub Industries
BPO Services, Logistics Software
Website
www.echo.com
Verticals
Artificial Intelligence, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
Echo Global Logistics, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | ITS Logistics | - | ||||||||
| Add-on | Completed | FreightSaver.com LLC | - | ||||||||
| Add-on | Completed | Fastmore Logistics | - | ||||||||
| Add-on | Announced | Roadtex Corp. | - | ||||||||
| Public to Private | Completed | Echo Global Logistics, Inc. | - |
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