PROCUREMENT AND SOURCING,SUPPLY CHAIN
Flex | August 03, 2022
For the fourth year in a row, Flex (NASDAQ: FLEX) has been named as Lenovo EMEA Logistics Supplier of the Year. The award is recognition of Flex's ability to create a seamless experience for companies and their customers that is resilient and adaptable to rapidly changing global end market demands. The award was presented at the Lenovo EMEA Global Logistics Suppliers Conference attended by Lenovo's connected partner network.
Flex's value added fulfilment services, which include vendor managed inventory, warehousing, fulfilment and last mile distribution, helped Lenovo deliver increased volumes across their PC & Smart Devices, Mobile, Server and Cloud business in what was a dynamic and highly challenging supply chain environment.
Speaking at the virtual Lenovo Supplier Conference, where the theme was resiliency, intelligence and ambition, Lenovo Head of Global Logistics, Gareth Davies, said, "Never has there been greater challenges in the logistics space. There are multiple hurdles, including unprecedented supply and demand volatility, and significant transportation constraints. To these the Flex team really responded. Every one of our partners raised their game to help Lenovo navigate a volatile, high volume and challenging year, but Flex won out against strong competition for their outstanding performance."
"We are honored to receive this award from our valued partner Lenovo. I am proud of the hard work and dedication of our teams across EMEA, in what was another highly unpredictable year for supply chains. Our team truly demonstrated our capability to be a trusted partner for a market-leading brand who needed to move fast, retain operational resiliency and maintain its competitive advantage."
-Pat Ring, senior vice president and general manager for Flex Global Services and Solutions,
Over 11,000 employees across 30 countries in Flex Global Services and Solutions (GSS) help customers manage how their products exist in the world through a range of value added services including fulfillment, logistics, aftermarket services and circular economy solutions.
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
Coregistics | June 27, 2022
Chicago-based private equity firm, Red Arts Capital, announced the acquisition of Coregistics, an award-winning, contract packaging services provider known for its flexibility and sophisticated systems. For Red Arts Capital, the deal comes on the heels of its most recent deal, the sale of the 104 year old trucking company MME to trucking industry titan Knight-Swift, for $150M. Coregistics is a leading national provider of packing-centric supply chain solutions including package and process design, materials sourcing and procurement, contract packaging, and distribution (3PL Services).
The company is based in Acworth, GA and operates out of 17 facilities across the United StatesFounded in 2011, Coregistics serves domestic customers consisting primarily of CPG, food & beverage, and service parts. The company’s top customers, many of which are household names in their respective sectors, lean on Coregistics for scalable solutions for introducing their unique products to retail. Coregistic’s services span warehousing, fulfillment, e-commerce and direct-to-DC to direct-to-retail, direct-to-consumer, parcel, freight management, and last parcel sectors. The company has eleven client-embedded locations and operates out of a footprint of nearly three million square feet across its seventeen locations.
Coregistics service offering fits squarely within Red Arts’ sector focus and investment approach in the supply chain space. Red Arts utilizes a thematic-driven process to investing, and has had a thesis in the contract logistics space for a number of years. The Red Arts team believes that past success and continued growth in e-commerce will positively impact packaging services demand, and Coregistics is well positioned to provide much needed third-party logistics services in the U.S. market.
Chad Strader, Co-Founder and Managing Partner of Red Arts Capital, and a seasoned supply chain industry veteran, believes the addition of Coregistics to the Red Arts portfolio will be extremely beneficial for both parties.
“The Coregistics team has demonstrated an extraordinary track record of excellence in contract logistics and packaging, which we believe stems from a team and culture laser-focused on high-quality service, We believe that Coregistics’ culture uniquely positions them to benefit from the growing range of packaging needs spurred by continued e-commerce developments. We are excited to be in partnership with them.”
-Chad Strader, Red Art’s Co-founder and Managing Partner.
Our culture is central to everything we do and is the foundation for the best-in-class service our team provides to our customers every day,said Eric Wilhelm, Coregistics’ Chief Executive Officer. The team at Red Arts Capital shares our belief in the importance of culture, dedication to excellence and best-in-class service and we are excited to welcome them as our new partner as we continue to grow our Company.
Since the firm’s inception in 2015, Red Arts Capital has been a private equity leader in supply chain and logistics investing. The firm is led by Co-founders and Managing Partners, Chad Strader and Nicholas Antoine. Since founding the firm, Chad and Nick have overseen major investments in Sunset Pacific Transportation, Radius Logistics, and now Coregistics, as well as two exited deals in Midnight Express and Midwest Motors Express. Red Arts Capital is not only a historically successful PE firm, but one of the few firms that are black-founded and black-owned. Only 12 of the projected 4,500 PE firms in the U.S. are owned by African Americans.1
Brightwood Capital Advisors provided debt financing for the transaction and Greenberg Traurig, LLP served as legal counsel for Red Arts Capital. Republic Partners served as financial advisor to Coregistics in the transaction.
Red Arts Capital
Based in Chicago, Illinois, Red Arts Capital is a leading investment firm focused on supply chain-related, transportation and logistics businesses. Red Arts Capital seeks to partner with and invest in privately-owned, primarily family-owned, and multi-generational businesses with solid business fundamentals and a strong track record and reputation. With sector expertise and a commitment to stewardship and excellence, Red Arts Capital’s approach earns the firm a trusted seat at the table with portfolio companies, investors and partners. For more information about Red Arts Capital, please visit www.redartscapital.com.
SOFTWARE AND TECHNOLOGY
ePost Global | June 16, 2022
ePost Global, a technology-enabled international shipping solutions provider, is excited to announce its expansion to Miami, FL on June 15th, 2022. South Florida will become the company’s Southeast U.S. hub. Led by global logistics experts, ePost has experienced significant growth through cross-border ecommerce trends and recognized the need to better support its existing and potential customers in the Southeast U.S. This facility is further proof of the company’s continued focus on strategic investment needed to support its growing ecommerce customer base.“We are excited to increase our U.S. footprint, says Fabrizio Alvear, EVP of Operations. In an environment where consumers are regularly shopping online, it is important to focus on how we can reduce delivery times, and with this expansion, we can improve our service offering. By opening a presence in South Florida, we are emphasizing the importance of aligning with major international logistics hubs.”
ePost Global has a national presence with multiple locations strategically located near international postal facilities and major airports. This expanded Southeast presence complements ePost’s headquarters near Los Angeles, CA, Midwest hub near Chicago, IL and Northeast facility located near the JFK, EWR and LGA international airports. Opening a location in Miami is merely the first step in ePost’s plan to further invest in the region with a focus on recruiting technology and operations talent.
“This new location helps us become a better partner for our existing customers and tap into a new pool of ecommerce businesses, With the continued growth of cross-border ecommerce, Miami is a critical hub for international shipping to ensure consumers anywhere in the world can appreciate U.S. consumer brands. The new facility will offer the same innovative, tech-enabled shipping solutions and best-in-class customer service that have become synonymous with the ePost brand.”
-Kelly Martinez, EVP of Sales and Marketing.
About ePost Global
ePost Global delivers cost-effective, global delivery solutions through strategically located processing centers throughout the United States. By combining technology and global logistics expertise, ePost Global optimizes delivery workflows, enhances visibility for all phases of delivery, and simplifies international shipping complexity.
PROCUREMENT AND SOURCING
Emergent Cold LatAm | July 07, 2022
Emergent Cold Latin America (Emergent Cold LatAm), the fastest-growing cold storage logistics operator in Latin America, announced today the acquisition of a modern distribution facility located in Recife, Brazil. This acquisition marks Emergent Cold LatAm’s expansion of its operations into the northeast region of Brazil.The new Emergent Cold LatAm site has a building area of almost 20,000 square meters, with 19,900 pallet positions of storage space. It is well-located within the city of Recife, which is one of Brazil’s largest cities and the most important commercial hub in the northeast region.
This acquisition represents Emergent Cold LatAm’s latest investment in Brazil. In November 2021, the company entered Brazil’s cold logistics market with its acquisition of Martini Meat. At the same time, Emergent Cold LatAm purchased DMX Logística, a leading transportation business supporting Brazil’s protein industry. With the new Recife location, Emergent Cold LatAm now has cold storage operations in four states across Brazil: Paraná, Santa Catarina, Rio Grande do Sul, and Pernambuco.
“This latest acquisition allows us to provide customers will fully-integrated solutions across a greater area of Brazil, including transportation, storage and other value-added services, I’m pleased to add this high-quality facility to our growing Brazil network.”
-Evandro Calanca, Managing Director of Emergent Cold Brazil.
44 Capital Finanças Corporativas acted as financial advisor and Lefosse Advogados acted as legal advisor to Emergent Cold LatAm.
About Emergent Cold LatAm:
Emergent Cold LatAm (www.emergentcoldlatam.com) is building a cold storage network of the highest quality, to provide integrated and comprehensive temperature-controlled logistic solutions to customers all over Latin America. The company was founded to cover the need for modern cold chain solutions in the market, and to meet the increasing demand from domestic and global customers. With this acquisition Emergent Cold LatAm now operates in 18 cold storage facilities, with more than 500 trucks and 3 facilities now under construction, to complete a total of 9 countries across Latin America.