WiseTech Global | January 31, 2023
WiseTech Global, the developer of CargoWise, a logistics execution software, recently acquired Envase Technologies (Envase), a transport management system software provider for drayage (container haulage), intermodal trucking, and landside logistics in North America. The transaction was valued at US $230 million. Envase was purchased from Firmament, a private investment firm and supply chain investor, and some other shareholders.
Envase's carrier solutions automate and provide visibility for container movement throughout all import and export haulage processes, from rail and port terminals to destination. With over 1,300 customers in North America, the company serves ports, depots, trucking companies, warehouses, and more. It is anticipated that the company will generate around US$35 million in revenue for the fiscal year 2023, with an EBITDA margin in the mid to low 20% range.
WiseTech will fund the transaction with a mix of cash (US$161 million) and new WiseTech Global shares issued to the vendors (US$69 million). The deal is expected to close in February 2023. Furthermore, existing cash reserves will cover the one-time transaction costs of around US$10 million.
"This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we're extremely pleased to have the Envase team join the WiseTech Global group," shared Richard White, Founder and CEO of WiseTech Global.
(Source – BusinessWire)
About WiseTech Global
Based in Alexandria, New South Wales, WiseTech empowers the world's supply chains through innovation and global technology. The company is improving connectivity, productivity, and resource usage for more than 18,000 logistics companies in over 165 countries. Its customers include 24 of the 25 largest global freight forwarders and 41 out of the top 50 third-party logistics providers globally. The company continuously invests in product development to create technology that prioritizes highly scalable, long-term solutions.
RSI Logistics Inc | January 23, 2023
In a recent development, RSI Logistics, Inc. has announced a strategic partnership with Transtar, LLC as well as with its operating companies.
As part of this agreement, RSI Logistics will manage the Zug Island transloading facility for Delray Connecting Railroad Company within Transtar's rail network. At the same time, the two companies will work together to promote the facility. Zug Island bulk terminal, within Detroit (Michigan), is a significant shipping location for a wide variety of goods, along with Toledo (Ohio) and Detroit markets. The partnership between RSI Logistics and Transtar will help rail shippers because both companies put customer service at the top of their priorities.
Kelley Minnehan, Vice President of RSI Logistics, Inc., said, "This partnership between RSI Logistics and Transtar brings together two organizations that care deeply about providing quality in rail shipping. We are ready and excited to begin working with Transtar to provide more opportunities for transloading. Transtar is all about providing rail transportation services and satisfying customers, and we foresee a successful journey together."
The following are some of the advantages that will result from this newly-formed alliance: Access to growing markets and prospects for truck and rail freight via Transtar's position in Detroit and Zug Island, which is convenient for rail shippers; the ability to develop new opportunities by upgrading equipment and personnel and extending track capacity; and opportunities for future collaboration between Transtar, LLC and RSI Logistics, Inc. are possible at some point in the near future.
About RSI Logistics, Inc.
RSI Logistics, Inc., a leading rail logistics provider, has helped clients in every major industry improve rail transportation efficiency. RSI Logistics offers various services to meet each client's specific requirements. These services include logistics, rail management software, and transloading solutions. Since 1984, RSI Logistics has helped organizations improve rail shipping with over 20 locations in 14 states. Its range of solutions includes rail management software, logistics services, transloading solutions, etc. The organization learns the client's business and customizes transportation services accordingly.
Descartes | January 24, 2023
On January 23, 2023, Descartes Systems Group, which provides solutions for logistics-intensive businesses, announced that Topps Tiles, a UK-based tile retailer, is using Descartes' cloud-based route optimization and planning solution to boost fleet delivery capabilities. Topps Tiles is reducing the average kilometers driven per delivery route by 2% through its collaboration with Descartes. The solution also helps Topps Tiles identify the potential impact of delivery strategy changes.
Descartes' route planning and optimization solution is an aspect of its Routing, Mobile, and Telematics suite. It assists in lowering costs with more efficient and agile routing, enhancing fleet resource management by generating increased delivery capacity, and growing sustainability by reducing their CO2 footprint and paper use across the route network.
Companies can use strategic route modeling to understand and refine their customer service and delivery strategies before implementing them. Descartes' mobile application aids drivers in completing their daily routes, keeps managers informed of progress, and provides an accurate estimated time of arrival (ETA) to alert customers of their deliveries. In addition, real-time mobile communication allows proof of delivery (POD) functionality support that facilitates excellent customer service and order accuracy.
Pól Sweeney, VP of Fleet Sales in Europe at Descartes, said, "Topps Tiles' long-term success is based upon its ability to continually provide customers with a superior shopping experience while offering cost competitive pricing." He added, "We're delighted to help Topps Tiles minimize its operational costs today through our route planning and optimisation solution and in the future with our strategic route modelling capabilities."
(Source – GlobeNewswire)
About Descartes Systems Group
Based in Waterloo (Ontario), Descartes offers software-as-a-service solutions that improve the productivity, security, and performance of logistics-intensive businesses. Customers work with one of the world's largest, collaborative multimodal logistics community to carry out various tasks, including routing, scheduling, tracking, and measuring delivery resources; planning, allocating, and executing shipments; rating, auditing, and paying transportation invoices; and completing many other logistics processes. As a result, the company helps safely and securely get assets, information, inventory, and people where and when needed.