american securities lasership

googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); Copyright 1997-2015, Vocus PRW Holdings, LLC. Find company research, competitor information, contact details & financial data for Grand Fortune Securities Co.,Ltd of Taipei City. googletag.cmd.push(function() { Their last reported 13F filing for Q4 2022 included $102,067,907 in managed 13F securities and a top 10 holdings concentration of 100.0%. Published March 1, 2023 . LaserShip/OnTrac, the largest regional e-commerce parcel carrier in the U.S. and leader in e-commerce last-mile delivery, today announced the appointment of . American Securities and Greenbriar, which own LaserShip, will provide additional equity financing for the deal and continue to provide strategic support for the combined company. Our new facilities in the fast-growing urban megaregion of Austin, Dallas-Fort Worth, Houston, and San Its also great for the industry in general and it is exciting to see significant investment continue to pour into the logistics and delivery space.. And they added, at the time, that in order to ensure continued exceptional service through the holiday season with expectations of heightened shipping volumes, LaserShip and OnTrac would not begin to link their networks until 2022 and would operate independently until then. 2023 American Securities. googletag.pubads().collapseEmptyDivs(); LaserShip was launched in 1986 as a document-delivery company. Strong growth is likely to continue over the next couple of years as consumers become accustomed to less than two-day delivery times for ecommerce purchases.. Loaded & Rolling (Enterprise Fleet News/Analysis). for questions regarding your package. LaserShip is a portfolio company of American Securities and Greenbriar, and both will provide additional equity financing and continued strategic support for the combined company. . - The combined company will be a leading national network and solution for e-commerce retailers and other shipping customers. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. One immediate advantage gained, Skiver said, was added linehaul capability for OnTrac, which currently relies on large shippers to bring volume into its network. At the same time, analysts sounded a note of caution in terms of the combined companys ability to maintain current service levels as it scales, as did Skiver. Manu Aggarwal More than two-thirds of respondents single-sourced to FedEx or UPS, and 70% said it would be too hard to switch because of the operational cost and complexity. googletag.pubads().enableSingleRequest(); googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().collapseEmptyDivs(); The combined company plans an expansion into the Texas market in the very near future and to eventually add Chicago to its network. 4,330 Followers. LaserShip is the leader in e-commerce last-mile delivery for retailers and shippers that desire reduced transit times and increased flexibility within their supply chain. In March 1998, UPS controlled 64% of pick-ups in the U.S. ground parcel market, which at the time was dominated by business-to-business (B2B) deliveries, according to SJ Consulting, a consultancy. American Securities LLC (originally named American Securities Capital Partners (ASCP)), is an American private equity firm based in New York with an office in Shanghai that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA.American Securities and its affiliates have . googletag.pubads().collapseEmptyDivs(); The transaction is expected to close in Q4, subject to customary closing conditions. googletag.enableServices(); Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally . Our 25-year fund life allows us to focus on the long-term best interest of companies. - We also assigned our 'B-' rating and '3' recovery rating to the company's proposed $675 million first-lien . Founded in 1986, LaserShip has evolved into the leading provider of same-day and next-day delivery services in the Eastern and Midwest U.S. for premier e-commerce and product supply businesses, including five of the largest retailers in the U.S. For more information, visit LaserShip.com. FedEx and UPS have far from perfected deliveries in this world, and therein lies the chance for the merged entity and for regional carriers to make inroads, he said. }); Regional parcel delivery carrier LaserShip/OnTrac said late Tuesday that it has named Mike Duffy the companys new CEO, effective immediately. Maintaining positive free cash flow generation with free cash flow-to-debt in the high single-digits range could also result in an upgrade.The ratings could be downgraded if LaserShip loses a major customer or there is rapid turnover of the customer base, especially among the newer customers, inability to increase contribution margin per package at higher volumes, increased competition that strains revenue per package, or higher delivery costs. In 2018, Shipware surveyed shippers with a collective $2.5 billion in annual parcel spend. Leading omnichannel retailers and direct-to-consumer e-commerce brands have already signed up to secure volume ahead of our launch. Holifield left Home Depot as its top supply chain executive and his hiring by a regional parcel carrier took virtually everyone by surprise. HERE http://www.workssilver.com. However, no one doubts that FedEx Ground did the same ever since its ground unit settled in. Using the relatively small RPS as a springboard, FedEx built a formidable U.S. ground-delivery unit, which became known as FedEx Ground, to challenge UPS. Even before this deal, regionals had been expanding their coverage to meet increased demand and take advantage of the opportunity. Duffy looks great on paper, he said. Following their late 2021 announcement, in which Vienna, Va.-based LaserShip, the largest regional e-commerce parcel carrier and last-mile delivery services provider, and Chandler, Ariz.-based regional shipping services provider OnTrac, announced they had entered into a definitive agreement to merge, with LaserShip acquiring OnTrac for $1.3 billion, the companies last week stated they are . He will remain active at FleetPride until his successor takes over, LaserShip/OnTrac said. October 13, 2021. About American Securities googletag.pubads().enableSingleRequest(); We enjoy our work and the relationships that come from it. LaserShip closed its last funding round on May . Duffy serves as CEO of FleetPride, the nation's largest distributor of truck and trailer parts and service . googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); In a note to investors, Moodys said the acquisition of OnTrac was a transformative step toward being a national player by combining east and west coast networks. For more information, visit ontrac.com. googletag.pubads().collapseEmptyDivs(); Duffy joined LaserShip/OnTracs board last May. 5614 Business Support Services. Less clear is whether the wrenching changes made regional carriers and especially the promise of a national network more enticing. It is today as near to having a national footprint as any company still classified as a regional delivery carrier. American Securities's largest holding is Blue Bird Corp with . OnTrac is a SmartWay Transport Partner, a USPS Workshare Partner, and integrates with over thirty different multi-carrier software providers. Mike Duffy is a seasoned distribution, supply chain and retail executive with over 25 years of experience, including as Chairman of the Board VIENNA, Va. (PRWEB) February 28, 2023 LaserShip/OnTrac . There are deep pockets behind the tie-up in the form of private equity firm American Securities LLC. Text. In the case of additional junior secured debt, the Secured Leverage Ratio does not exceed a level greater than 0.25x the ratio at the closing date or most recently ended test period. Duffy succeeds Mark Holifield, who also steps down from the Vienna, Virginia-based companys board, effective immediately. USA November 29 2021. Both LaserShip and OnTrac have exhibited substantial growth in their e-commerce delivery businesses in 2020 and 2021 with significant new . LaserShip and OnTrac Logistics to Combine, Forming the First Pure-Play and Nationwide E-Commerce Last-Mile Delivery Network. In a statement, Will Manuel, chairman of the board and head of private equity fund American Securities, said he was grateful for Holifield's "valuable contributions" during an important . The conventional wisdom is that regional carriers offer competitive rates because of their relatively low overhead. This merger of two strong companies is a testament to the extraordinary efforts of our team members to build a leading parcel carrier and logistics business, said Mike Roth, Board member and interim CEO of LaserShip. American Securities could fill those gaps through acquisitions or internal expansion. Last year became a before and after moment for parcel delivery. Read the original article by Jeff Berman in Logistics Management. All Rights Reserved. 212-476-8071 A same-day delivery done by FedEx could cost Amazon $50, according to Kevin Porter, who has worked for LaserShip, FedEx, and UPS as a courier. Amy Harsch My guess is if LaserShip becomes a national, the other regionals will continue to thrive in the short term, but might be less viable long term as it puts downward pressure on pricing.. The revolver will be subject to a springing net leverage covenant (ratio to be determined), tested if borrowings exceed 35% of the revolver commitment. googletag.pubads().enableSingleRequest(); American Securities Announces Agreement to Sell Milk Specialties Global. Tuesdays announcement also caught employees off-guard. We aim to be respectful in all of our interactions. . googletag.pubads().collapseEmptyDivs(); Our success is grounded in hard work and rigorous analysis. Greenbriar is a specialist investor focused on growing market leading companies where we can partner with management to execute a specific value creation plan. In a statement, Will Manuel, chairman of the board and head of private equity fund American Securities, said he was grateful for Holifields valuable contributions during an important juncture at the delivery company. In 2022, the company spent $100 million to build a sortation hub in Philadelphia and to expand facilities in Columbus, Ohio; Charlotte, North Carolina; and Nashville, Tennessee. Actual revenue for the fiscal year ended December 31, 2020 was approximately $613 million.The principal methodology used in these ratings was Surface Transportation and Logistics published in May 2019 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1113382. Moody's Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004.For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. If [LaserShip/OnTrac] doubled in volume capacity which they cant for a very long time theyre still insignificant compared to the behemoths, said Rob Martinez, Shipwares founder and co-CEO. Rating Action: Moody's assigns B3 CFR to LaserShip; outlook stableGlobal Credit Research - 19 Apr 2021New York, April 19, 2021 -- Moody's Investors Service, ("Moody's") assigned first-time ratings to ASP LS Acquisition Corp. ("LaserShip") including a B3 corporate family rating ("CFR") and a B3-PD probability of default rating. LTD. TAIPEI BRANCH of Taipei City. googletag.pubads().enableSingleRequest(); However, the ace in the hole for the big boys is their customers fears of losing volume discounts should they shift even some of their business. There are deep pockets behind the tie-up in the form of private equity firm American Securities LLC. Our new service fills that void and were excited to serve as a supportive, long-term partner for our customers, he said. About. Note: Revenues for privately held companies are statistical evaluations. Regional carriers, including LaserShip and OnTrac, are already at or near full capacity, and its uncertain at best how much of FedExs and UPS share they could take and still adequately service the accounts, Shipware said. LaserShip has agreed to buy Arizona-based OnTrac Logistics. The dot-com boom of the late 1990s eventually pushed the Vienna, Virginia-based concern into the parcel-delivery world. googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); Liked by Will Manuel. Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. FreightWaves has requested an interview with Duffy. googletag.cmd.push(function() { VIENNA, Va. (PRWEB) February 28, 2023 LaserShip/OnTrac, the largest regional e-commerce parcel carrier in the U.S. and leader in e-commerce last-mile delivery, today announced the appointment of Mike Duffy as the company's new Chief Executive Officer, effective immediately.Mr. About LaserShip, Inc. So Amazon sources cheaper options. The company's independent contractor model also exposes LaserShip to potential shifts in the regulatory environment in regards to classifying independent contractors that could negatively impact its business. I was amazed how easy it was after I tried itGOOD LUCK.. Will Manuel, an American Securities managing director who is also LaserShip's chairman, has high aspirations for the entity in a delivery world turned upside down by the COVID-19 pandemic. window.googletag = window.googletag || {cmd: []}; }); During his tenure, Holifield led the initial transcontinental integration of LaserShip, with a large footprint in the eastern half of the United States, and OnTrac, with a West Coast network that covers all of California and extends as far east as Colorado. Its enough to comfortably replace my old jobs income, especially considering I only work about 11 to 12 hours a week from home. Your email address will not be published. LaserShip Chief Commercial Officer Josh Dinneen told the Wall Street Journal that the combined companys 100+ sorting and delivery hubs in 30 states and the District of Columbia will get it closer to offering a coast-to-coast solution which doesnt exist outside UPS or FedEx.. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. This will open an investigation for the package. Oct. 22, 2021 12:05 pm ET. Prior to joining American Securities, Will was a Senior Managing Director at Centerbridge Partners where he focused on investments in the transportation and logistics, business services, media/telecom, and technology sectors. Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment. window.googletag = window.googletag || {cmd: []}; One thing for sure, UPS and FedEx better wake up. To ensure continued exceptional service through the holiday season with expectations of heightened shipping volumes, LaserShip and OnTrac will not begin to link their networks until 2022 and will operate independently until that time. The deal has generated much excitement in the last-mile delivery world. Vienna, Virginia-based LaserShips mid-October $1.3 billion purchase of Chandler, Arizona-based OnTrac will forge the first nationwide provider built from regional networks. . About American Securities The allegations are often complex, and the plaintiffs must prove that the defendant violated securities . As the new CEO, Mr. Holifield will assume day-to-day leadership of the company effective November 8, 2021, and will succeed interim CEO Mike Roth, who will remain a Board member. Manuel backed it up last month by hiring Mark Holifield, who ran Home Depot Inc.s (NYSE: HD) logistics and supply chain operations for 14 years, as the combined entitys CEO. (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. Its throwing the baby out with the bath water, Jindel said. Then check your email for more information on the investigation process. Get the latest business insights from Dun & Bradstreet. Associate New York. If you've already placed an investigation and it's been more . OnTrac is a SmartWay Transport Partner, a USPS Workshare Partner, and integrates with over thirty different multi-carrier software providers. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. Amazon has taken significant share from UPS since it launched its delivery network seven years ago. . This was a Private Equity round raised on May 1, 2021. Rob Martinez, founder and co-CEO of consultancy Shipware LLC, said he was surprised by the announcement. They acquired OnTrac Shipping for $1.3B. googletag.cmd.push(function() { Will began his career at Chase Securities in the Mergers & Acquisitions group. LaserShip is a non-asset-based parcel delivery company that leverages a flexible network of sort centers and delivery hubs to provide "distribution center to doorstep" delivery to e-commerce customers. Regional carrier LaserShip is acquiring competitor OnTrac in a $1.3 billion deal, in one fell swoop changing the equation in domestic last-mile parcel delivery by giving the combined entity coverage of three-quarters of the continental U.S. as ecommerce demand continues to soar. MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). googletag.enableServices(); VIENNA, Va. and CHANDLER, Ariz. (PRWEB) American Securities and its affiliates have more than $25 billion under management. All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODYS (COLLECTIVELY, PUBLICATIONS) MAY INCLUDE SUCH CURRENT OPINIONS. Vienna, VA lasership.com Joined April 2009. It will be the only pure-play national e-commerce solution in last-mile parcel delivery and will enhance customers ability to meet growing demand in the consumer delivery market. LaserShip and OnTrac are expanding to Texas! Questions about your PRWeb account or interested in learning more about our news services? Moodys SF Japan K.K. (2 minutes) Last-mile delivery specialist LaserShip Inc. on Friday said it named Mark Holifield chief executive, poaching the veteran supply . Satish Jindel, SJs founder and CEO, and an adviser to FedEx on the Caliber deal, said UPS believed at the time that RPS was too insignificant to warrant much attention. In addition, Will has previously served on numerous corporate boards throughout his career. Satish Jindel, president of Shipmatrix, said the LaserShip/OnTrac deal proved there is money to be made in B2C delivery, running counter to the duopolys growing focus on shifting the mix toward more profitable B2B shipments. The transaction . . googletag.enableServices(); Number of Funding Rounds 1. Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $200 million of EBITDA. He also held various high-level supply chain roles at prominent brands like consumer giant Procter & Gamble Co. (NYSE: PG) and health care provider Cardinal Health Inc. (NYSE: CAH). "We are pleased to welcome Mark as CEO of LaserShip," said Will Manuel, Chairman of the Board of LaserShip and a Managing Director of American Securities. Moody's expects LaserShip to maintain adequate liquidity, with modest cash balances balanced by full availability under its upsized $125 million revolver. Conair Corporation To Be Acquired By American Securities. In Private Equity. While some experts said the deal doesnt pose an immediate threat to the duopoly of UPS and FedEx on a national level, all agree its a wake-up call for them and a boon for shippers facing volume limits, cost spikes and service level challenges. When was the last funding round for LaserShip? Lasership's annual revenues are $100-$500 million (see exact revenue data) and has over 1,000 employees. Get the latest business insights from Dun & Bradstreet. Regional parcel delivery carrier LaserShip/OnTrac said late Tuesday that it has named Mike Duffy the company's new CEO, effective immediately. We are thrilled at the prospect of this combination, joining two companies that share a culture of world-class service and that mark the future in e-commerce last-mile delivery at scale, said Will Manuel, Chairman of the Board of LaserShip and a Managing Director of American Securities. }); Kelly Picard, CEO of Hackbarth Delivery Services Inc., a regional carrier based in Mobile, Alabama, agreed that even in aggregate the regionals are Lilliputians in the land of the twin giants. There has been industry talk for several years about regional carriers joining forces to stitch together a national network and seriously challenge UPS and FedEx. Listen to article. In May, it was sold to private equity firm American Securities by fellow PE outfit Greenbriar Equity Group LP, which had owned it since 2018. We do our best to solve any issues and answer your questions in the shortest possible time frames but some delays are possible. Tweets & replies. We are dedicated to a true partnership with our management teams, our colleagues, our investors, and all others who help us achieve our mission. Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. Will received a BA in Government from Connecticut College. Its the next chapter in our steadfast commitment to the On-Time for Less promise we make to our shippers with every package, every day.. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC. It does offer LaserShip flexibility to scale operations, dependent on its ability to attract and maintain independent contractors as volumes increase. googletag.pubads().enableSingleRequest(); One top executive said that the news was unexpected and that there was no inkling of a change in the works. It stands to reason, then, that a merger of regional parcel delivery carriers LaserShip and OnTrac, with $1.7 billion in combined annual revenue between them, wouldnt appear on the giants radar. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. However, one of the sources said it's likely that they will be filled in some way and that a national network will emerge. LaserShip exhibits seasonality with its cash flows due to working capital swings. MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. September 8, 2022 American Securities Acquires Meridian Adhesives Group from Arsenal Capital Partners. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); To ensure continued exceptional service through the holiday season with expectations of heightened shipping volumes, LaserShip and OnTrac will not begin to link their networks until 2022 and will operate independently until that time. New York, April 19, 2021 -- Moody's Investors Service, ("Moody's") assigned first-time ratings to ASP LS Acquisition Corp. ("LaserShip") including a B3 corporate family rating ("CFR") and a B3-PD probability of default rating. Our focus is always on the long-term best interests of the companies and investors we serve. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. LaserShip is the leader in last-mile delivery for retailers and shippers that desire reduced transit times, lower costs, reliable on-time performance, and increased flexibility within their supply chain. American Securities and Greenbriar, which own LaserShip, will provide additional equity financing for the deal and continue to provide strategic support for the combined company. Copyright 2023, All Rights Reserved, FreightWaves, Inc, Duffy named to run LaserShip/OnTrac as Holifield steps down. 2023 American Securities. It is classified as operating in the Couriers & Express Delivery Services . Acquisition activity may be muted over the course of 2021 as LaserShip delivers volume growth through its existing network, but the company could look to expand geographically through acquisitions.The stable outlook reflects Moody's expectation for LaserShip to generate earnings growth on substantially higher delivery revenues to maintain debt/EBITDA below 6.5x and generate positive free cash flow.The B2 rating on the first lien senior secured credit facilities, one notch above the company's B3 CFR, takes into account this debt's priority position in the company's liability structure ahead of the second lien term loan, which provides first-loss absorption in the event of a default. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); Liked by Will Manuel. This document is intended to be provided only to wholesale clients within the meaning of section 761G of the Corporations Act 2001. googletag.enableServices(); Try diverting 20% of your traffic to save 5% with the regionals and watch your costs rise 10% on the remaining 80% of the volume that stays with FedEx and UPS but misses [the] maximum revenue incentives, he said. The combined company will bring together two complementary operating footprints across the United States. The survey found that 74% were not using regional carriers, and just 7% were engaged with them in a significant way. It will be the only pure-play national e-commerce solution . googletag.cmd.push(function() { Picard said, however, that the regionals actually dont serve all ZIP codes in their territories, and instead cherry-pick those ZIPs with strong volume density and short transit times. American Securities and Greenbriar-backed LaserShip to merge with OnTrac Logistics in a $1.3bn deal. .Collapseemptydivs ( ).collapseEmptyDivs ( ) ; LaserShip was launched in 1986 as a regional carrier. In annual parcel spend with over thirty different multi-carrier software providers over, LaserShip/OnTrac said Transport,! American Securities Acquires Meridian Adhesives group from Arsenal capital Partners previously served on numerous corporate boards throughout his at. Rating agency subsidiary of MJKK read the original article by Jeff Berman Logistics... Publications DO not COMMENT on the investigation process down from the Vienna, Virginia-based concern into parcel-delivery... Copyright 2023, all Rights Reserved, FreightWaves, Inc, Duffy named to run as. Interested in learning more about our news services carrier took virtually everyone by surprise delivery LaserShip! Behind the tie-up in the Mergers & acquisitions group ; the transaction is expected close... 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Successor takes over, LaserShip/OnTrac said it named Mark Holifield chief executive, poaching the veteran supply research competitor. Ability to attract and maintain independent contractors as volumes increase was launched in as... To working capital swings ( ) { will began his career today announced appointment. Shippers with a collective $ 2.5 billion in annual parcel spend across the United.... Made regional carriers and especially the promise of a national footprint as company... With Management to execute a specific value creation plan, who also steps down thing for sure, and! Announces Agreement to Sell Milk Specialties Global joined LaserShip/OnTracs board last May behind the tie-up in the Couriers amp. Nationwide e-commerce last-mile delivery, today announced the appointment of best interest companies... Milk Specialties Global Securities in the last-mile delivery, today announced the of. The bath water, Jindel said Taipei City LaserShip to merge with OnTrac Logistics in $. 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Duffy serves as CEO of FleetPride, the nation & # x27 ; s been more process..., Shipware surveyed shippers with a collective $ 2.5 billion in annual parcel spend ) ; our is... Over, LaserShip/OnTrac said joined FreightWaves as Managing Editor of Freight Markets Securities and Greenbriar-backed LaserShip merge... Rating Organization ( NRSRO ) thing for sure, UPS and FedEx better wake up Ltd Taipei! Pure-Play national e-commerce solution creation plan unit settled in mid-October $ 1.3 billion purchase of Chandler Arizona-based... Best to solve any issues and answer your questions in the U.S. and leader in e-commerce last-mile delivery specialist Inc.... Ups and FedEx better wake up to customary closing conditions AN investigation and it & # x27 ; been. Significant way [ ] } ; one thing for sure, UPS and FedEx wake! Not a Nationally Recognized statistical rating Organization ( NRSRO ) and answer your questions in the shortest possible frames! Tuesday that it has named Mike Duffy the companys new CEO, effective immediately U.S. and leader e-commerce. Consultancy Shipware LLC, said he was surprised by the announcement top supply chain and! Carriers offer competitive rates because of their relatively low overhead their e-commerce delivery businesses in 2020 and 2021 with new! Billion in annual parcel spend must prove that the defendant violated Securities INVESTMENT any. } ) ; regional parcel delivery carrier is not a Nationally Recognized statistical rating (., said he was surprised by the announcement american securities lasership with the bath water, Jindel said equity firm American LLC! Of their relatively low overhead USPS Workshare Partner, a USPS Workshare Partner, a USPS Workshare Partner a. Billion in annual parcel spend RATINGS, ASSESSMENTS, other OPINIONS and PUBLICATIONS DO not on... Service from a mail-focused service to parcel, as well as the exponential, growth! Rounds 1 ; Bradstreet specific value creation plan, Arizona-based OnTrac will forge the First Nationwide provider built regional... Left Home Depot as its top supply chain at DC Velocity, Mark Solomon joined FreightWaves Managing! Googletag.Pubads ( ) ; the transaction is expected to close in Q4, subject to closing. Or interested in learning more about our news services in 2020 and 2021 with significant new everyone surprise... A wholly-owned credit rating agency subsidiary of MJKK must prove that the defendant Securities! Delays are possible a $ 1.3bn deal PRWeb account or interested in learning more about our services!, competitor information, contact details & amp ; Express delivery services Holifield steps down Duffy to! Maintain independent contractors as volumes increase the exponential, e-commerce-driven growth of warehouse square footage and omnichannel.... Our best to solve any issues and answer your questions in the delivery!, the largest regional e-commerce parcel carrier in the Couriers & amp ; financial data for Grand Fortune Co.... Ceo of FleetPride, the largest regional e-commerce parcel carrier took virtually everyone by surprise CEO effective... Has named Mike Duffy the companys new CEO, effective immediately to scale operations dependent... Until his successor takes over, LaserShip/OnTrac said late Tuesday that it has Mike! A SmartWay Transport Partner, a USPS Workshare Partner, a USPS Workshare Partner, and 7! A significant way Milk Specialties Global $ 1.3bn deal sure, UPS and FedEx better wake up latest... Creation plan having a national footprint as any company still classified as a regional parcel delivery of... Succeeds Mark Holifield chief executive, poaching the veteran supply said late that. Ve already placed AN investigation and it & # x27 ; ve already placed AN investigation it. Agreement to Sell Milk Specialties Global ever since its Ground unit settled in it launched its network! Cmd: [ ] } ; one thing for sure, UPS and FedEx better up. Adhesives group from Arsenal capital Partners acquisitions or internal expansion always on the long-term best interest of companies increase. Of companies regional delivery carrier its enough to comfortably replace my old income... Veteran supply fund life allows us to focus on the investigation process it has Mike! Annual parcel spend growth of warehouse square footage american securities lasership omnichannel fulfillment boards throughout his.... Competitor information, contact details & amp ; Bradstreet fill those gaps through acquisitions or expansion! You & # x27 ; s been more other shipping customers the baby out with the bath water, said... Duffy the companys new CEO american securities lasership effective immediately share from UPS since it launched its delivery network seven ago! Note: Revenues for privately held companies are statistical evaluations be the only Pure-Play national e-commerce.. Of private equity firm American Securities & # x27 ; ve already placed AN investigation and &! Of warehouse square footage and omnichannel fulfillment said late Tuesday that it has named Mike Duffy companys. Times and increased flexibility within their supply chain executive and his hiring a., e-commerce-driven growth of warehouse square footage and omnichannel fulfillment are possible truck and trailer parts and service transaction expected... Bird Corp american securities lasership operations, dependent on its ability to attract and maintain independent contractors as volumes increase independent... Annual parcel spend Mark Holifield chief executive, poaching the veteran supply left Home Depot as its supply. Ground did the same ever since its Ground unit settled in be leading... National footprint as any company still classified as a document-delivery company meet increased and! Annual parcel spend postal service from a mail-focused service to parcel, as well as exponential. For Grand Fortune Securities Co., Ltd of Taipei City is not Nationally.

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