Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ECHO GLOBAL LOGISTICS, INC.

(ECHO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancials 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

The Jordan Company Completes Acquisition of Echo Global Logistics, Inc.

11/23/2021 | 09:02am EST

CHICAGO, Nov. 23, 2021 /PRNewswire/ -- Echo Global Logistics, Inc. (Nasdaq: ECHO) ("Echo"), a leading provider of technology-enabled transportation and supply chain management services, today announced that it has been acquired for $48.25 per share in cash by an affiliate of The Jordan Company, L.P., a global private equity firm. ("TJC"). The acquisition was first announced on September 9, 2021 and became effective today.

"The closing of this transaction, which followed a thorough review of alternatives by our Board of Directors, represents a new and exciting chapter for our Company, our talented and dedicated employees, and the clients and carriers we serve," said Doug Waggoner, Chairman of the Board of Directors and Chief Executive Officer of Echo. "It strengthens our ability to execute our long-term growth strategy and fulfill our mission. TJC brings significant expertise and industry experience to further accelerate our success."

Brian Higgins, head of TJC's supply chain and logistics vertical said, "We are excited to have completed the acquisition of Echo. We look forward to partnering with the strong Echo team to invest in and further the company's technology and business results."

As a result of the completion of the merger, trading in Echo's common stock on Nasdaq Global Select Market has been suspended.

About Echo Global Logistics

Echo Global Logistics, Inc. (Nasdaq: ECHO) is a leading Fortune 1000 provider of technology-enabled transportation and supply chain management services. Headquartered in Chicago with more than 30 offices around the country, Echo offers freight brokerage and Managed Transportation solutions for all major modes, including truckload, partial truckload, LTL, intermodal, and expedited. Echo maintains a proprietary, web-based technology platform that compiles and analyzes data from its network of over 50,000 transportation providers to serve 35,000 clients across a wide range of industries and simplify the critical tasks involved in transportation management. For more information on Echo Global Logistics, visit: www.echo.com.

About The Jordan Company

The Jordan Company ("TJC"), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $17 billion since 1987 and a 39-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Consumer & Healthcare; Industrials; Technology, Telecom & Utility; and Supply Chain & Logistics. The senior investment team has been investing together for over 20 years and it is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has offices in Chicago and Stamford. For more information, please visit www.thejordancompany.com.

INVESTOR RELATIONS CONTACTS:
Pete Rogers
Chief Financial Officer
Echo Global Logistics
312-676-4584

Zach Jecklin
SVP of Strategy
Echo Global Logistics
312-784-2046

MEDIA CONTACT:
Christopher Clemmensen
SVP of Marketing
Echo Global Logistics
312-784-2132

(PRNewsfoto/Echo Global Logistics, Inc.)

 

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-jordan-company-completes-acquisition-of-echo-global-logistics-inc-301430820.html

SOURCE Echo Global Logistics, Inc.


ę PRNewswire 2021
All news about ECHO GLOBAL LOGISTICS, INC.
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P Global BMI Index
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P TMI Index
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P 600 Industrials
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P 1000
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P Transportation Select Indust..
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P Composite 1500
CI
11/24ECHO GLOBAL LOGISTICS, INC.(NASDAQGS : ECHO) dropped from S&P 600
CI
11/23Jordan Company Completes Echo Global Logistics Acquisition
MT
11/23ECHO GLOBAL LOGISTICS : The Jordan Company Completes Acquisition of Echo Global Logistics,..
PU
11/23The Jordan Company Completes Acquisition of Echo Global Logistics, Inc.
PR
More news
Analyst Recommendations on ECHO GLOBAL LOGISTICS, INC.
More recommendations