Express Courier International to expand with EagleOne acquis
Friday, February 3rd, 2012
US private equity firm The Riverside Company has acquired another courier company in the Southeast United States to continue expanding Express Courier International.
The Cleveland-based equity group has acquired EagleOne Logistics, which is based in Ft Smith, Arkansas, providing similar regional time-sensitive delivery services as Memphis firm Express Courier International, which Riverside bought in 2006.
The firm said the acquisition would allow Express to enter the Texas and Oklahoma markets, extending its operational area from Texas to Florida.
Riverside managing partner Loren Schlachet said: “EagleOne and Express operations overlap throughout a number of key areas, so the combination improves route density and customer service while helping Express expand into new geographies and add new customers.”
EagleOne serves a similar range of customers as Express, said its new owners, including clients in the pharmaceutical, auto parts, banking, laboratory, hospital and office supply sectors.
Express president Chuck Moyer said adding EagleOne to his company was a “big step forward”.
“It makes us a more efficient and effective provider of courier services, while adding valuable customer accounts and expanding operations into new markets,” he said.
Scott Maddox, the VP of operations at EagleOne, said of his company’s new owners: “Their resources, IT support, financial backing, and commitment to excellent customer service will really help us continue to grow our business and serve our customers more effectively.”
Riverside, which has assets of around $200m, bought Tennessee-based company Alliance 1 last year in a similar move to strengthen Express Courier’s network.
Express Courier International was founded in 1984, and prior to the EagleOne acquisition served 10 states with 21 branch offices and a network of 185 employees and more than 1,000 drivers.