Loading
GlobalTranz CFO Renee Krug Named 2018 Distinguished Woman in Logistics

PHOENIX (April 18, 2018) – (BUSINESS WIRE) – Renee Krug, CFO of GlobalTranz Enterprises, Inc., a leading technology-driven freight management solution provider, received the Women in Trucking Association’s Distinguished Woman in Logistics Award on April 10. The announcement was made during the Transportation Intermediaries Association 2018 “Capital Ideas” Conference and Exhibition in Palm Desert, Calif.

With 25 years of executive leadership experience, Krug has been instrumental in growing GlobalTranz from $400 million to over $1 billion in revenue during her four-year tenure. Krug also led GlobalTranz through five major acquisitions and has helped the company reach record-setting growth and profitability.

“I am humbled to be recognized by my outstanding peers in transportation and logistics,” said Krug. “This honor is a reflection of the hard work and talent of the entire GlobalTranz team and a testament to the organization’s leadership in third-party logistics and transportation management systems.”

Krug was selected this year’s honoree from a group of three finalists. She was awarded for her leadership, unique contributions to the logistics industry and overall professional success.

In addition to driving performance at GlobalTranz, Krug was instrumental in establishing CORE, the GlobalTranz corporate responsibility program that focuses on initiatives such as the environment, health and education, and community service and citizenship. Her philanthropy in the community extends beyond her corporate contributions, as Krug plays an active role in supporting several nonprofit organizations, including Feed My Starving Children, the National Charity League and the Susan G. Komen Foundation.

“Renee’s business savvy, financial expertise and exceptional operating capability are second to none,” said Bob Farrell, chairman and CEO of GlobalTranz. “Her commitment to excellence has helped make GlobalTranz a market leader in both the logistics space and in corporate culture. This distinction is a timely recognition of the impact she’s made on the industry and in the communities in which she is part of.”

Krug’s other recent notable distinctions include:

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

MEDIA CONTACT:
Tracy Dick
Chief Marketing Officer
619-888-2324
tdick@globaltranz.com

If you were to ask a group of transportation analysts where freight rates are heading in 2018, most would say higher. That’s not surprising, considering we are riding the wave of a healthy economy. Logistics Management magazine says we are experiencing the “best global growth rate in seven years.”

What are the main factors pushing freight rates higher, and what can you do to mitigate and prepare for these increases? From my position as Senior Vice President of Carrier Relations at GlobalTranz, I’d like to share what we are learning from the carriers we work with daily and pass along insights that will help you more efficiently manage your logistics operations.

Driver Shortage & Capacity Crunch

In my conversations with our valued carrier network, the number one factor driving higher costs is a lack of qualified drivers. It’s having a domino effect, leading to today’s widespread capacity crunch.

Some carriers say they can’t hire drivers in line with the pace of growth. Ironically, carriers can buy trucks, both to replace aging equipment or increase capacity, but they can’t get the drivers quickly enough behind the wheel. Therefore, many carriers are unable to fully capitalize on today’s robust freight market.

One large regional LTL carrier recently shared that in the course of the next five years, over 20 percent of its driver force is going to retire, yet another drain on the driver pool. Depending on the source, most analysts think the driver shortage is between five to 15 percent.

That’s also why many people in the industry are calling this new reality a carrier’s market. With lower shipping capacity, carriers can, in turn, set higher prices—a natural result of supply and demand economics. At the same time, carrier costs, such as driver salaries, are increasing as a means of enticing more to join the ranks. Driver pay will continue to rise this year as carriers compete for fewer drivers.

ELD Mandate

While the electronic logging device (ELD) mandate began in December 2017, its official enforcement didn’t start until April 2018. John Larkin, a trucking analyst, says as a result of the ELD mandate, “Additional rate increases may be forthcoming.”

Driver time behind the wheel will be strictly enforced with ELDs. Gone are the days of paper logs, which are easier to alter, enabling operators to drive more hours than legally allowed. This change is having an impact on transit times, especially in the range of 450 to 800 miles. A lane that once was traveled in a day now takes two, resulting in inherent rate increases.

Density Pricing

The nature of freight is changing. As B2B buyers mirror consumer purchasing behaviors and delivery expectations, more businesses want inventories closer to customers. The result is more frequent shipments that are lighter in weight, yet can be bulkier in size.

LTL carriers get paid based on what they can load into a trailer, so an increase of lightweight and bulky items that “cube-out” a trailer leaves less room for heavier stackable items, which can impact a carrier’s profitability. To contend with the changes to freight density, carriers are adjusting their rates to focus more on how much trailer space the shipment occupies (dim-weight or density pricing) and less on weight and class. For carriers that haven’t made the jump to permanent dim-weight or density pricing systems like UPS and FedEx, these price adjustments sometimes take the form of W&R (weight and research) adjustments and/or additional accessorial charges.

About 80 percent of our LTL carriers have reached out to us in the past six months to say, “We have to start charging differently for long, over-sized, light-weight freight.”

How to Mitigate Higher Prices

With higher shipping prices predicted in the months ahead, there are several steps you can take to save on your overall logistics costs:

1. Identify Inefficiencies in Dock Operations
How do your employees interact with carriers? Is the driver getting in and out of your facilities quickly? What is your check-in and check-out process with drivers? The longer drivers sit idle at your dock losing productivity, the more likely your freight costs will be higher.

2. Optimize Your Packaging
Are your products adequately packed and protected in a box that’s not too big for the actual item(s)? We’ve all received packages from a seller where the item may be a small box packed into a much larger box and filled the rest of the way with bubble wrap and foam peanuts. As carriers move to rates based on the amount of space a shipment occupies on a truck rather than weight-based NMFTA classifications, shippers will need to be conscious of their packaging strategies, to avoid higher costs.

3. Combine Modes or Mode Shift
Leveraging multimodal shipping services and logistics solutions, like combining rail with truckload, or creating pool distribution opportunities, helps reduce your overall costs while mitigating capacity challenges and meeting your customer delivery demands. When you need to ship standard dry freight 700+ miles, and transit speed is not critical, intermodal shipping is an option that can drive consistency, cost savings, security and reliability into your supply chain.

4. Consider Drop Trailers
Drop trailers are often used at locations that have enough outbound shipping volume to fill multiple trailers each week. They enable shippers to load freight when convenient and combine shipments into a full truckload, which would otherwise ship as LTL. Drop trailers also reduce the amount of time drivers sit idle waiting for their truck to be loaded. In today’s tight capacity market, and with the recent launch of the ELD mandate, carriers and drivers are more conscious of dwell time and lost productivity. Using drop trailers creates flexibility for your dock and warehouse schedule, helps mitigate capacity issues, and enables drivers to quickly pick up your delivery, which in turn helps keep your freight costs down.

5. Centralize Transportation Procurement
Use a web-based TMS (transportation management system), with a network of pre-qualified carriers, to provide a consistent means to quickly compare carrier rates, transit service, and match the best carrier with your shipment. Using a TMS provides visibility to all your outbound and inbound freight, so you can see all your shipment data in one place to track key metrics and better optimize your total freight spend, which will drive operational efficiency and aggregate transportation cost savings.

6. Partner with Logistics and Supply Chain Experts
As logistics operations, capacity and rates continue to increase in complexity, 90 percent of Fortune 500 companies have turned to 3PLs for logistics management. Third-party logistics firms offer shippers access to deep carrier networks with reliable capacity, multimodal shipping solutions and transportation management software that helps mitigate freight market fluctuations, meet your customer delivery demands and gain competitive advantage.

Soften the Impact of Freight Rate Increases

Analysts are predicting shipping increases anywhere from seven to 11 percent this year, but by improving logistics operation efficiencies and leveraging the partnership, capacity and advanced technology of 3PLs, you’ll soften the impact while driving operational efficiency and cost savings into your supply chain.

Call 866.275.1407 or connect with an expert to see how GlobalTranz can help you save on your overall logistics costs and mitigate capacity challenges.

PHOENIX (April 12, 2018) – GlobalTranz Enterprises, Inc., a leading technology-driven freight management solution provider, has been named No. 10 on the Transport Topics Top 50 Freight Brokerage List for the third year in a row, moving up in ranking from No. 13 last year.

One of the most respected publications in the trucking and freight transportation space, Transport Topics annually names the biggest players in the industry to its Top 50 Freight Brokerage List. This distinction speaks to GlobalTranz’s record year-over-year growth and continued leadership in third-party logistics and transportation management systems.

“Being named among the top 10 by Transport Topics reinforces our commitment to meeting customers’ evolving logistics needs with best-in-class technology and solutions that fuel supply chain efficiencies.” said Bob Farrell, chairman and CEO of GlobalTranz. “Businesses of all sizes are turning to 3PLs to create competitive advantages and respond to customer demands. With a full-suite of integrated service offerings, we’re able to drive operational excellence and help them deliver a better customer experience.”

The strength of the GlobalTranz go-to-market model creates a diverse revenue pipeline. Organic growth, strategic acquisitions and exceptional performance of transactional and managed transportation continue to contribute to the company’s success. Ongoing investment in proprietary technologies and expanded multi-modal service offerings add value for customers, strengthening GlobalTranz’s market leadership on a global scale.

GlobalTranz announced its 2017 financial results, posting total revenue gains of 55 percent and earnings growth of 42 percent year-over-year, outpacing many competitors in the industry. With the successful completion of five acquisitions in the last fourteen months, including Global Freight SourceLogistics Planning ServicesWorthington Logistics SolutionsApex Logistics and AJR Transportation, GlobalTranz continues to identify targets for strategic mergers and acquisitions.

Beyond the recent recognition by Transport Topics, GlobalTranz has been acknowledged in logistics and business communities for its innovation, growth and leadership. Recent accolades include:

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

MEDIA CONTACT:
Tracy Dick
Chief Marketing Officer
619-888-2324
tdick@globaltranz.com

GlobalTranz Announces Agent and Carrier Awards

PHOENIX – (April 10, 2018) – (BUSINESS WIRE) – GlobalTranz Enterprises, Inc., a leading technology-driven freight management solution provider, named its 2017 Agent and Carrier Award recipients last week during the annual Freight Agent Conference at Scottsdale Resort & Spa at Gainey Ranch.

The annual ceremony included a record number of industry professionals and award honorees. GlobalTranz presented its top agents with awards based on financial performance, customer service metrics and other key indicators. Carriers received awards based on overall operational excellence and customer service, price competitiveness and flexibility, strategic partnerships and market leadership, and technology innovation and new service offerings.

“Agents and carriers are critical to the success of GlobalTranz,” said chairman and CEO Bob Farrell. “From connecting shippers with the right carriers at the right moment to delivering tough freight loads on time and on budget, agents and carriers provide incredible value to our shipper customers and are imperative to GlobalTranz’s market leadership as a 3PL. We are proud to honor and celebrate their achievements.”

GlobalTranz recognized the following carriers for their commitment to excellence in 2017:

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

MEDIA CONTACT:
Tracy Dick
Chief Marketing Officer
619-888-2324
tdick@globaltranz.com

SCOTTSDALE – (April 3, 2018) – GlobalTranz Enterprises, Inc., a leading technology-driven freight management solution provider, hosts its annual Freight Agent Conference April 4-6 at the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch.

Bringing together colleagues, industry experts and guest speakers, the 2018 GlobalTranz Freight Agent Conference equips attendees with the most up-to-date industry best practices, previews of new freight and logistics technologies, and in-depth analysis of the current and future state of the logistics industry.

Highlights of the 2018 conference include:

The GlobalTranz Freight Agent Conference also provides agents with networking and relationship-building opportunities with industry colleagues and top transportation carriers nationwide. Additional key GlobalTranz partners in attendance include:

“The annual GlobalTranz Freight Agent Conference provides freight agents and carriers with the tools and knowledge needed to understand and prepare for the future of the logistics industry,” said Bob Farrell, chairman and CEO of GlobalTranz. “Top national speakers, networking opportunities with industry leaders and direct access to carriers create an invaluable experience for GlobalTranz agents, which we are proud to host.”

Stay informed during this year’s conference by following the conversations on LinkedIn and Twitter using #GTZcon2018.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

MEDIA CONTACT:
Tracy Dick
Chief Marketing Officer
619-888-2324
tdick@globaltranz.com

Vote for GlobalTranz in the 2018 Inbound Logistics Top 3PL Awards.

Every July, Inbound Logistics Magazine recognizes outstanding logistics service providers with the Top 10 3PL Excellence Awards. Voters cast their ballot for 3PLs they deem exceptional in areas of reliability, flexibility and customer service.

At GlobalTranz, we are determined to make it happen for shippers and carriers every day. Our passion for logistics and creating an exceptional customer experience motivates us to pioneer logistics technology and tailored solutions that drive supply chain efficiency and cost savings.

Making It Happen 24/7/365.

It doesn’t matter if you’re a first-time shipper or long-time client. GlobalTranz is a strategic partner, providing the solutions, service, technology and savings that enable you to respond to your customer demands at the speed of business.

Our team of 1,300+ is committed to going above and beyond for shippers, carriers and partners:

­­­­­Who makes it happen for you at GlobalTranz? Recognize their hard work and exceptional service by voting for GlobalTranz in the 2018 Inbound Logistics Top 3PL Awards.

We would be honored to have your support.

Vote For GlobalTranz

Today, ninety percent of Fortune 500® companies rely on 3PLs for outsourced logistics and supply chain services, according to an Armstrong & Associates report. Whether you’re a B2C or B2B company, how promptly and efficiently you react to customer orders has a direct bearing on customer loyalty, retention and earnings. Company supply chains have become strategic imperatives, with businesses investing heavily to create competitive advantages through innovations in their fulfillment, warehousing and logistics operations.

When you outsource non-core functions like logistics, you can focus entirely on what you’re great at: growing and building your business.

Explore these seven reasons to outsource logistics services and partner with a 3PL:

1. Focus on Core Business

There aren’t enough hours in the day to become an expert on the complexities of logistics while still creating new products, expanding markets and growing your company. When you outsource logistics management, you put the day-to-day execution, strategic recommendations and logistics operations in the hands of a trusted partner. In the process, you’ll free up time for employees to focus on customers and expand your business.

2. Gain Access to Technology

Cutting-edge logistics technology developed by 3PLs helps businesses drive supply chain efficiency, cost savings, and visibility. Companies like GlobalTranz empower businesses with transportation management software that integrates logistics operations with ERP, CRM, order management, and back-office systems. This data flow provides supply chain visibility, process automation, and business intelligence to help transform and grow businesses.

3. Drive Efficiency and Cost Savings

Third-party logistics companies bring experience, technology, scale and operational best practices to help businesses increase overall transportation management efficiency and cost savings. 3PLs combine the volume and scale of all customers’ freight to “buy in bulk” from carriers and negotiate competitive rates for shippers. As businesses continue to look for ways to reduce transportation costs, 3PLs provide logistics optimization tactics to help companies realize sustainable long-term savings. Technology-driven 3PLs like GlobalTranz also provide shippers with logistics management platforms that provide end-to-end automation.

4. Improve Risk Management

Risks are an inherent part of supply chains, but 3PLs can help businesses mitigate incidents and prevent downtime. Many 3PLs provide 24×7 monitoring and visibility to anticipate and respond to problems that keep your supply chain operational. As part of its GTZconnect logistics platform, GlobalTranz is using pioneering technologies like AI (artificial intelligence) and machine learning to help businesses solve problems before they happen. AI gathers and analyzes thousands of data points from historical events, current environment and future expectations to help businesses manage disruptions (like weather), reduce downtime, and effectively plan and budget their logistics spend and operations.

5. Acquire Custom Solutions

Using multimodal shipping services and logistics solutions, like combining intermodal with truckload and final-mile, helps mitigate capacity challenges and meet customer delivery expectations. Full-service 3PLs like GlobalTranz have access to a broad range of carriers and transportation services that can be combined to create custom logistics solutions for your business.

6. Develop Internal Staff

Outsourcing your logistics to a 3PL expands the expertise of your team. 3PLs bring logistics operational best practices and work alongside your team to help them develop new skill sets and process efficiencies. When your employees are well-trained and develop new skills, they add more value to your organization.

7. Improve Customer Satisfaction

Consumers and business buyers’ delivery expectations are rapidly increasing. 2-day and next day delivery are now the status-quo. To manage these delivery demands, 3PLs like GlobalTranz are tapping their networks and resources to provide just-in-time logistics solutions designed to meet expanded buyers’ needs. Automated warehouses, final-mile, multimodal, and multi-vendor are just a few of the logistics services a 3PL can provide to meet your customers’ unique delivery requirements.

Helping You Grow Your Business

Overall, the success of outsourcing your logistics is dependent on choosing the right 3PL provider. Outsourcing logistics management drives operational efficiency and cost savings while providing technology, knowledge, and expertise to help you grow and transform your business.

Call 866.275.1407 or connect with an expert to see how GlobalTranz can help you outsource logistics operations so you can focus on growing your business.

The Rise of AI in Logistics Management

The ever-expanding field of artificial intelligence (AI) is leaving an indelible mark on every industry, logistics included. In its Logistics Trends Radar report, DHL identified AI and machine learning (a subset of AI) as key technologies driving logistics innovation. With its ability to rapidly make sense of massive data sets and automate operational processes, AI is transforming the movement of goods and creating competitive advantages for business supply chains across the globe.

For shippers, AI tools consistently deliver an array of benefits from improving efficiency and productivity to saving you dollars throughout your logistics operations.

Here are 3 Ways AI is Transforming Logistics Management

1. Predictive Logistics

With its ability to gather and analyze thousands of disparate data points, AI can help you solve a problem you don’t know is there. Combining data from historical events, current environment, and future expectations, AI enables businesses to shift from reactive to proactive decision making. With AI technology, shippers can manage disruptions (like weather), reduce downtime, and effectively plan and budget their logistics spend and operations. More impactful than dealing with disruptions, AI-enabled logistics platforms allow organizations to drive efficiency and profitability from daily operations.

At GlobalTranz, we help companies track financial forecasts, pace and flow of production, and order processing. These data points, combined with deep insights into carrier capacity and performance, allow companies to answer questions like, “How many more orders can we service within budget for a given set of lanes? or How much can we increase manufacturing without going over our freight budget?”

2. Optimization Events

AI is being used to make faster and smarter decisions that optimize carrier selection, rating, routing and quality control processes. The abundance of data, sophisticated algorithms, and dynamic business rules helps move shipments from point A to point B, C, and D, using the most efficient, fastest route. In the past, it could have taken up to six months to thoroughly understand the unique features (best- and worst-case transit time, the impact of weather and other factors) of specific routes. Today, analytics based on AI can examine large sets of data in seconds and create simulations that match shipper demand with carrier behaviors like capacity, service capabilities and backhaul opportunities to determine the best combinations of carriers and lanes for delivering loads.

3. Recommendation Engines

In logistics management, many repetitive tasks can be made more efficient through automation. Using AI computing techniques, like machine learning and natural language processing, we can teach systems to recognize patterns in data, and based on its findings, issue a recommendation or action. Over time, self-learning enables logistics solutions like GTZconnect to continuously improve operating algorithms and deliver more informed suggestions that help shippers automate logistics decisions and increase the efficiency of business processes.

For example, at GlobalTranz, we use the concept of ‘AI everywhere’ in our GTZconnect platform to integrate user, carrier, shipper, historical and predictive data to route inbound inquiries to the best customer support representative equipped to handle a question or issue. We also incorporate real-time information on weather, seasonality, traffic, and other data inputs to recommend the best solution for each shipment. Rather than spending hours on repetitive tasks, AI enables businesses and their employees to focus their time on higher-value projects that help transform and grow their businesses.

How to Leverage the Power of AI in Your Logistics Operations

As companies continue to emphasize the impact logistics has on earnings and customer loyalty, they increasingly turn to innovative technology and automation for practical solutions. Logistics leaders should equip their business and teams with technology, like GlobalTranz’s no-cost TMS platform, which centralizes freight data, integrates business systems data, and leverages AI, machine learning and predictive analytics to create operational efficiencies and make better business decisions.

 

Leverage the power of AI. Get a demo of the GTZ TMS Platform, GTZconnect. Call 866.275.1407 or Request a demo.

Mergermarket, the leading provider of forward-looking M&A intelligence and data to M&A professionals and corporates around the world, featured GlobalTranz’s plans to grow its capabilities through strategic acquisitions that add value for shippers, carriers and freight agents.

GlobalTranz, a private equity-owned provider of transport logistics services, is actively looking at six or seven acquisition candidates of varying sizes, CEO Bob Farrell said.

The Phoenix-based company, which generated USD 854m in annual revenue for 2017 – up from USD 550m the previous year – has completed five acquisitions over the last 13 months, he added. A month ago, it purchased AJR Transportation, a Texas-based freight brokerage and logistics company. It expects to close on one or two deals in the first half, according to Farrell, who was appointed CEO in early 2016.

Some of the targets in question are the same size as GlobalTranz, while some generate as little as USD 10m in revenue, he added. Targets on the larger end of that spectrum tend to have more diversified business models and bigger customer bases, while smaller targets can offer niche technologies or logistics solutions, he said.

The company is “on the path” towards ending 2018 with USD 1bn in revenue, not including additional acquisitions, Farrell said.

Generally, GlobalTranz wants to find companies with “great revenue synergies as opposed to expense synergies, which will either be there or not,” said Farrell.

Targets that bring new capabilities in international ocean and air freight, intermodal transport and last-mile delivery would also be attractive.

“People are shipping big and bulky items as well as big fluffy items in ways they’ve never done before,” Farrell said. As a tech-driven company, it would be helpful for GlobalTranz to acquire solutions in those areas instead of building them, he said.

In particular, technology related to predictive analytics, machine learning, advanced customer management and pricing engines would be desirable to obtain via acquisitions, he added. As far as attractive markets, GlobalTranz is seeing a lot of freight opportunities in durable goods, food manufacturing and infrastructure.

GlobalTranz has seen “a lot of goods moving northbound” from its customers in Mexico. For this reason, it could buy Mexican logistics companies, the CEO said. He maintained that the company is not yet in talks with any groups from that area, but is looking broadly across the US.

The company is not using an external financial advisor for deals, as it has an internal team that is “able to do pretty detailed levels of diligence and analysis,” said Farrell. It retains KPMG, RSM and Ernst & Young for auditing and other financial purposes, as well as CBIZ for quality of earnings and tax analysis, he added.

In 2014, GlobalTranz completed a USD 40m Series C led by Providence Equity and Susquehanna Growth Equity, which own the majority of the company. Shortly after, the company’s then-CEO Andrew Leto told this news service that GlobalTranz could seek additional capital, or possibly an IPO, by 2016, when he expected its revenue to reach USD 1bn. According to Leto, the company had raised USD 53m to date. Its law firm was then Greenberg Traurig.

Farrell said GlobalTranz no longer uses Greenberg Traurig and that its counsel is now Quarles & Brady as well as Weil, Gotshal & Manges. When asked if the company could seek an IPO upon reaching the USD 1bn milestone, Farrell replied that this plan is not in the cards right now. Asked about other exit options, he said that GlobalTranz is focused on increasing the value of the company, declining to elaborate.

Upon Providence and Susquehanna’s investment, GlobalTranz moved from “being entrepreneurially-led to focusing on profitability. We did some things internally to get ourselves aligned to grow organically and also have the framework to integrate acquisitions,” he added. Specifically, the company enhanced its technology, upgraded its staff and “made decisions based on data trends.”

Providence and Susquehanna did not return calls seeking comment.

www.mergermarket.com 

For more information on GlobalTranz, visit GlobalTranz 2017 Financial Results and Highlights