|By Marketwired .||
|February 26, 2014 12:20 PM EST||
CHICAGO, IL -- (Marketwired) -- 02/26/14 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today its acquisition of Comcar Logistics ("Comcar"), a non-asset-based truckload brokerage based in Jacksonville, Florida.
Founded in 2011, Comcar provides truckload brokerage to a portfolio of clients with a strong carrier network and a commitment to superior service, primarily in the Southeastern and Rocky Mountain regions. Comcar is led by Lane Turner, who will serve as a Regional Vice President, working with the Echo management team to continue bringing transportation brokerage capabilities to Comcar clients.
"Comcar delivers to ECHO an experienced team with significant truckload expertise, a network of carrier relationships and strong client relationships," said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. "A good fit both strategically and culturally with our organization, Comcar will strengthen our presence in the Southeastern states and Colorado."
"We are pleased to join the Echo organization," stated Mr. Turner. "The Echo web-based technology platform, national truckload brokerage capabilities, multi-modal service offering and commitment to client service will expand our ability to deliver enhanced transportation solutions to shippers."
During the prior 12 months, Comcar Logistics had approximately $15 million in gross revenue.
About Echo Global Logistics
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. Echo maintains a web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients' shipping and freight management needs. Echo procures transportation and provides logistics services for clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
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