West Palm Beach, FL – March 19, 2013 – BGSA is pleased to announce that Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, has acquired BGSA client Open Mile, Inc., a truckload brokerage headquartered in Boston, MA.
Founded in 2010, Open Mile is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers.
"Open Mile has developed leading edge, cloud-based technology that successfully automates many of the manual tasks of transportation management," said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. "The acquisition of Open Mile enhances the technology solutions we offer clients and carriers while also expanding our client base, sales force and carrier network in the Northeastern United States."
"Echo is the premier third party logistics firm in the transportation industry," stated Evan Schumacher, CEO of Open Mile. "We look forward to joining the Echo team and contributing to the industry leading technology that drives their business."
About Echo Global Logistics
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients' transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
About Open Mile
Open Mile, based in Boston, is a non-asset transportation service provider that combines high tech automation with freight management expertise to create superior shipping services for clients and carriers. For more information on Open Mile, visit: www.openmile.com.
About BG Strategic Advisors
BG Strategic Advisors ("BGSA") is the leading M&A advisory firm focused on the logistics and supply chain industry. BGSA specializes in providing supply chain CEOs with the tools to maximize their companies' value. In addition to M&A advisory services, BGSA provides its clients with a broad range of investment banking capabilities, including equity capital, debt capital, board advisory, restructuring, and other capital markets services. BGSA provides investment banking services through BG Strategic Advisors LLC, a registered broker-dealer and member of FINRA and the SIPC.
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