Newly formed CoPilot Global Logistics Holdings announced that it has acquired a majority stake in full-service logistics provider Mallory Alexander. The deal was backed by private equity firm Endeavor.
Join the leaders shaping the future of shipping
F3: Future of Shipping Festival, October 21-22.
Connect with the best in the industry and discover what’s next.
Co-pilot It was formed by industry veterans Rich Bolte (former President of BDP International), Paul Svindland (Chairman of STG Logistics) and Carmen Gerais (former Chief Transportation Officer of BDP International and STG Logistics). CoPilot is a holding company that provides capital and operational support to small and medium-sized logistics companies.
Mallory Alexander It will serve as the primary operating company for CoPilot, which seeks to build a global logistics platform through investments and acquisitions.
Under the new ownership structure, Endeavor and CoPilot will retain a majority investment, while members of the Mallory family will retain a stake. The deal is a financial partnership, not a merger with a competing 3PL. Mallory Alexander will continue to operate under its current brand and leadership, with Bolte joining as Chairman, Svindland as CEO, and Gerace as President.
“Mallory Alexander’s people, culture and operational reputation make it the right place to begin building a broader logistics platform,” Bolte said in a press release. … “Our approach is to invest for the long term – enhancing Mallory’s operations, technology and team while selectively acquiring like-minded operators that expand service capabilities and geographic reach.”
CoPilot is seeking future investments in logistics with a focus on visibility platforms, workforce training and safety programs, among others.
“We will maintain each company’s operational strengths and local leadership as we expand,” Bolte said. “Consolidating administrative functions and building a unified, customer-focused culture will be a priority and a competitive advantage.”
Mallory Alexander, based in Memphis, Tennessee, is a 100-year-old 3PL with expertise in freight forwarding, customs brokerage, warehousing and distribution, and specialty project shipping services. The company operates more than two million square feet of warehouse space in the United States and offers a wide range of local transportation services such as truck brokerage, intermodal transportation, and domestic air transportation.
“Today’s partnership gives Mallory the resources to accelerate the investments our team needs, in technology and training, while maintaining the customer-first service our customers rely on,” Svindland said. “We are excited to thoughtfully expand and deliver stronger, more reliable solutions to customers around the world.”
https://media.zenfs.com/en/freightwaves_373/0bb9fa06cfcab069f3794bdef683c079
Source link