CHICAGO, Dec. 7, 2011 (GLOBE NEWSWIRE) -- Echo Global Logistics, Inc. (Nasdaq:ECHO), a technology-driven transportation management company, has acquired all of the outstanding capital stock of Trailer Transport Systems (TTS), an Intermodal Marketing Company located in Rochester, New York. Effective immediately, TTS will begin doing business as Echo Global Logistics, Inc.
Founded in 1981 and managed over the past 20 years by principals Dave Buschner and Mark Ervin, TTS is a non-asset provider that specializes in intermodal transportation solutions. TTS expands Echo's rail capabilities by providing greater access to U.S. railroads and an extensive drayage network to provide customers with enhanced services and greater flexibility to intermodal offerings.
"Echo's growth strategy focuses on enhancing our business model across every mode of transportation," said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics. "Intermodal service is a strategic component of Echo's growth, and the acquisition of Trailer Transport Systems enhances our ability to provide our clients with a complete transportation solution."
"We are excited to join the Echo team," said Dave Buschner and Mark Ervin, both of whom will continue with Echo as Regional Vice Presidents. "Echo provides an established sales channel platform to market TTS services and enhance our operational capabilities." Echo has retained the entire TTS workforce in connection with this acquisition.
During the prior 12 months, TTS had approximately $15 million in gross revenue. TTS is expected to be accretive to Echo's earnings in 2012.
About Echo Global Logistics
Chicago-based Echo Global Logistics is a leading provider of technology-enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. Echo's web-based technology platform compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients' shipping and freight management needs. This year, Echo has procured transportation and provided logistics services for more than 24,900 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
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Forward-Looking Statements
This release contains statements relating to future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of our Form 10-K for our most recently completed fiscal year.