CHICAGO, IL -- (Marketwired) -- 10/30/15 --
Mayor Rahm Emanuel and Echo Global Logistics (NASDAQ: ECHO) Chairman and CEO Douglas R. Waggoner today announced the company will more than double their workforce in Chicago, bringing their total number of employees in the city to more than 1,600. The company is relocating more than 550 employees from a recent corporate acquisition, who will join an existing 800 Chicago-based Echo employees at a single new office. The company also plans to add up to 300 new positions.
"Today more and more companies like Echo see the City of Chicago taking responsibility for our financial future. That is giving them confidence that our economy will continue to grow which makes them want to build their long term future here in the City of Chicago," said Mayor Emanuel. "I want to thank Echo for its commitment to Chicago, and I can't wait to cut the ribbon on their new headquarters next year."
"It's fitting that we are celebrating our tenth anniversary by welcoming the Command Transportation team to join us in the great city of Chicago where we were founded," said Mr. Waggoner. "As we know, Chicago is an emerging technology center and provides unparalleled access to talent, expansive transportation options for our employees and a leading cultural scene -- all of which matter to our growing employee base. This is the 20th acquisition Echo has completed in the past ten years, and we anticipate our combined workforce integrating into a significant player in the logistics industry. We're bullish for positive growth going forward as we bring two great organizations together and continue to provide leading expertise and
multimodal transportation solutions to our clients."
Echo anticipates starting the move in the summer of 2016, with an office location to be determined in the River North area. The 300 new positions will be created over the next 24 months and include sales staff, IT programmers and general office staff.
In May of 2015, Echo acquired Command Transportation in a $420 million deal. The acquisition brought Echo increased truckload network density, experienced logistics professionals, proprietary technology platforms, and a seamless cultural integration. The Skokie, Illinois-headquartered Command Transportation was one of the largest privately held truckload (TL) brokers and non-asset-based transportation providers in the United States. In 2014 the two companies had total revenue of more than $1.7 billion. After the relocation, the combined firms will employ more than 1,350 individuals within Chicago as well as more than 2,500 throughout the U.S.
Founded in Chicago in 2005, Echo Global Logistics is celebrating its 10th year in business and has enjoyed considerable growth during that time. The company simplifies the various, time-consuming tasks involved in transportation management through its award-winning technology and superior service. During its ten years, the company has successfully completed 20 acquisitions and built a proprietary, web-based platform that offers clients streamlined supply chain and transportation management solutions.
About Echo Global Logistics
Echo Global Logistics, Inc. (NASDAQ: ECHO) is a leading 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 30,000 transportation providers to serve 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.
Director of Finance
Echo Global Logistics
SVP of Marketing
Echo Global Logistics
Mayor's Press Office
Source: Echo Global Logistics
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