Forwarders face margin squeeze as growth cools and disruption persists
The global freight forwarding market is still growing, but the industry’s easy gains appear to ...
© Anyaberkut
By Alex Lennane
GlobalTranz and Worldwide Express are to merge in the third quarter of this year. The transaction is led by a consortium of private equity partners, led by CVC Capital and GlobalTranz’s lead investors, Providence Equity Partners and PSG. Worldwide Express investor Ridgemont Equity Partners, as well as both forwarders’ managements, will retain “a significant stake”. Chief executive of Worldwide Express Tom Madine will lead the merged company. The operators said they had “complementary strengths”, giving them market-leading products in LTL, FTL and managed transport.
Comment on this article