BG Strategic Advisors Announces that Echo Global Logistics, Inc. Has Acquired BGSA Client Open Mile, Inc.
West Palm Beach, FL – March 19, 2013 – BGSA is pleased to announce that Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, has acquired BGSA client Open Mile, Inc., a truckload brokerage headquartered in Boston, MA.
Founded in 2010, Open Mile is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers.
“Open Mile has developed leading edge, cloud-based technology that successfully automates many of the manual tasks of transportation management,” said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. “The acquisition of Open Mile enhances the technology solutions we offer clients and carriers while also expanding our client base, sales force and carrier network in the Northeastern United States.”
“Echo is the premier third party logistics firm in the transportation industry,” stated Evan Schumacher, CEO of Open Mile. “We look forward to joining the Echo team and contributing to the industry leading technology that drives their business.”
About Echo Global Logistics
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients’ transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
About Open Mile
Open Mile, based in Boston, is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers. For more information on Open Mile, visit: www.openmile.com.
BG Strategic Advisors Announces that Liquidity Services, Inc. Has Acquired BGSA Client National Electronic Service Association (NESA)
West Palm Beach, FL – November 2, 2012 – BG Strategic Advisors is pleased to announce that Liquidity Services, Inc. (NASDAQ: LQDT) has acquired National Electronic Service Association (NESA) in an all-cash transaction. NESA is a Canadian provider of returns management, refurbishment and reverse logistics services for high-value consumer electronics, telecommunications, and information technology products. BG Strategic Advisors acted as the exclusive financial advisor to NESA in this transaction.
NESA, with nearly 130 employees, is headquartered in Toronto, Ontario and establishes Liquidity Services’ first client service and distribution center in Canada while enabling the company to cross-sell services with existing and prospective clients in both the U.S. and Canada. NESA’s current service offering is supported by NESA Live, a cloud based application that supports returns management, repair and refurbishment services in hundreds of product categories, including satellite TV boxes, laptops, game consoles, tablets, and e-books.
“With the proliferation of technology causing complexity and shorter life cycles across thousands of products, our comprehensive reverse logistics solution, encompassing returns management, refurbishment and multi-channel disposition and re-sale services, enables us to reduce costs and increase recovery value for retailers and OEMs,” said Bill Angrick, Chairman and CEO of Liquidity Services. “We are delighted to add NESA’s experienced team to our business and look forward to providing NESA’s client base the opportunity to utilize our existing multi-channel asset recovery services for surplus and refurbished consumer electronics and technology products. The Liquidity Services solution leverages over 2.2 million global buyers and our experience completing the sale of over $3.0 billion in Gross Merchandise Volume.”
“We are excited to join Liquidity Services and combine our respective services to create a comprehensive reverse logistics solution for electronic and technology products,” said Dominic Renda, President and Founder of NESA. “Liquidity Services brings us a leading market position, expertise and resources to help NESA reach the next level, representing an even brighter future for our growth, innovation and value for our clients and employees.”
Liquidity Services expects the transaction to be $0.02 to $0.03 cents accretive to its fiscal year 2013 earnings results.
Founded in 1986 in Toronto, NESA provides comprehensive reverse and forward logistics solutions, procurement, repair, refurbishment and remanufacturing services to leading electronics manufacturers, distributors and service providers in Canada through a distributed national service network. NESA’s mission is to provide repair and warranty services for electronic products, as well as refurbishment and re-manufacturing for a full range of consumer and business electronic products. Located in Toronto, Ontario, NESA and its team of nearly 130 employees are proud of their 26-year history of service excellence serving corporate and consumer clients across Canada. Additional information can be found at www.nesacanada.com.
About Liquidity Services
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies and buying customers the world’s most transparent, innovative and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $3.0 billion of surplus, returned and end-of-life assets, in over 500 product categories, including consumer goods, capital assets and industrial equipment. The company is based in Washington, D.C. and has nearly 1,200 employees. Additional information can be found at www.liquidityservicesinc.com.
Mark Szakonyi, Associate Editor | Jun 11, 2012 4:00AM GMT
The Journal of Commerce Magazine – News Story
UPS, FedEx map different strategies for expanding in Europe and Brazil
While UPS made a splash with its move to buy TNT Express earlier this year, FedEx appears to be forging a more cautious approach in countering the European and Brazilian expansion of its main rival.
The planned FedEx acquisition of two European transportation companies and, most recently, a Brazilian logistics and parcel delivery company takes a “more measured international growth strategy that looks to smaller, bolt-on operations,” wrote transportation analyst David Ross of Stifel Nicolaus.
This approach appears to be in sharp contrast to the planned UPS acquisition of TNT Express, Europe’s second-largest package delivery company, for $6.8 billion in cash.