One Stop Logistics Now a Part of Echo Global Services
CHICAGO, IL: Echo Global Logistics, transportation and supply chain management services, has announced the acquisition all of the assets of One Stop Logistics, the transportation brokerage headquartered in Watsonville, CA.
One Stop brings to Echo strong sales talent and a solid network of shippers and carriers. Steve Brown, 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.
"One Stop is a profitable and impressive operator in the market for over the road transportation solutions," said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. "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."
"We are pleased to be the latest addition to the Echo organization," stated Steve Brown. "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."
"It is expected that the One Stop acquisition will be accretive to earnings for the second half of the year, with immaterial impact in the second quarter after considering integration costs. Effective with this transaction, we are raising 2014 gross revenue guidance to a range of $1.07 to $1.13 billion," stated Kyle Sauers, Chief Financial Officer of Echo Global Logistics.
See Also: Logistics Transportation Review