Cambridge Capital Merges Everest Transportation Systems and Simple Logistics to Revolutionize Freight Brokerage Industry

Cambridge Capital Announces Strategic Merger of Everest Transportation Systems and Simple Logistics

In an exciting development within the freight brokerage sector, Cambridge Capital, a prominent investment firm specializing in the applied supply chain, has disclosed the merger of its portfolio company Everest Transportation Systems with Simple Logistics. This strategic union is positioned to redefine the standards of freight brokerage by harnessing the strengths and capabilities of both companies.

Expanding Operational Capabilities

The new synergy created by merging Everest, known for its dry truckload and drayage services, with Simple Logistics, which focuses on service-sensitive refrigerated freight, promises extensive expansion in operational scale. Customers will benefit from an enriched suite of services due to the combined efforts, including enhanced cross-selling initiatives and access to a wider carrier network. This merger aims to leverage Cambridge's financial backing to elevate both companies to greater heights in the freight brokerage market.

Everest Transportation Systems has carved a niche for itself by utilizing a tech-driven platform paired with a distinctive offshore labor model. With this merger, Everest will broaden its service portfolio by integrating Simple Logistics' expertise in refrigerated logistics, catering effectively to a diverse clientele.

Historical Background and Vision

Cambridge strategically invested in Everest in August 2021, marking a decisive move in bolstering its supply chain presence. Everest specializes in various transportation services, including full truckload, drayage, expedited services, and intermodal transport, with a key focus on non-cyclical sectors such as food and beverage, known for their stability and continuous demand.

Under the guidance of Cambridge, Everest has implemented significant value creation initiatives, including the overhaul of its technology stack to ensure seamless operations and an improved customer experience. A notable figure in this transformation is Chris Pickett, an esteemed Independent Board Chairman who previously led Coyote Logistics to its successful exit to UPS.

Simple Logistics, based in St. Charles, Illinois, is recognized for its dedication to facilitating complex shipping needs, particularly within the refrigerated and dry van segments. With industry veterans like Steve Spoerl at the helm, Simple Logistics has established a solid reputation since its inception in 2012.

Excitement About the Future

The merger has instigated excitement among the leadership teams of both companies. Jake Elperin, CEO of Everest, expressed enthusiasm about Simple Logistics joining their operations, emphasizing the wealth of experience and industry connections that Steve Spoerl and his team bring. This collaboration aims to serve an expanding customer base effectively and efficiently.

Spoerl echoed this sentiment, highlighting the merger as a pivotal opportunity to leverage operational capabilities and market reach, ensuring sustained growth and exceptional service delivery. The combination is projected to create a robust, asset-light freight brokerage with a diversified service offering, enhancing the ability to navigate market fluctuations positively.

Ben Gordon, Founder and Managing Partner of Cambridge Capital, characterized the merger as a substantial opportunity to capitalize on operational efficiencies and market growth, a sentiment reinforced by Principal Matt Smalley, emphasizing that both companies will substantially benefit from the financial support and resources made available through this union.

Legal advisors such as McDermott Will & Emery LLP and Wintrust Financial Corporation played crucial roles in facilitating the merger, showcasing the commitment and diligence invested in this landmark transaction.

Conclusion

In summary, the combination of Everest Transportation Systems and Simple Logistics under Cambridge Capital heralds a new era in the freight brokerage industry, characterized by enhanced operational efficiency, strategic growth, and an unwavering commitment to customer service. As both companies anticipate further developments and opportunities, their collaboration is set to make significant waves in the logistics and transportation landscape.