USPACK ACQUIRES FREIGHT RITE. TENNEY GROUP ADVISES
Updated: Sep 11, 2020
Aug. 24, 2020 — USPack, a national leader in high speed, final-mile logistics and NewSpring Holdings portfolio company today announced the acquisition of Freight Rite, further expanding its omni-channel retail logistics capabilities and national footprint. Tenney Group, an industry specialized M&A firm, advised the seller.
The strategic acquisition of Freight Rite supports USPack’s commitment to white-glove delivery and in-home installation. Since 1999, Freight Rite has been a regional home delivery leader for appliances, furniture, sporting equipment and electronics. “By partnering with an established, tech-enabled national player like USPack, we can quickly and easily expand our best-in-class operational strength to other markets and verticals,” said Brian Beerbower, CEO, Freight Rite.
With this acquisition, USPack is uniquely positioned as an omni-channel Delivery Economy partner for retail and eCommerce. As a result, the firm welcomes large national retail partners to its customer roster in apparel, appliance, furniture, cosmetics, value merchandise and home improvement verticals. The company’s expanded retail service capabilities include store replenishment, parcel, delivery from store, white glove services and professional in-home installation. USPack will continually focus on network growth, industry-leading technology solutions, and adding new capabilities to further strengthen its service offering.
“This acquisition ushers in a new frontier of service capabilities for USPack’s retail offering, both geographically and in strategic areas of expertise,” said Mark Glazman, CEO, USPack Logistics. “Both companies offer specialized services that align with USPack’s commitment to customer satisfaction and will help fuel our growth as the leader of end-to-end retail solutions. We are excited to double down on our retail strengths by marrying our innovative, adaptable ADDI technology stack to their robust delivery operations to scale growth for USPack and our customers.”
The Freight Rite deal is the second final mile transaction for Tenney Group in a matter of months. Earlier this year, Tenney Group advised Linn Star Transfer in their sale to Forward Air. Spencer Tenney, President and CEO, shared “In order to fully capitalize on the available opportunities in the final mile space, companies need cutting edge technology, elite operational capabilities, and scale. Acquisitions are playing a key role in piecing that puzzle together.”
About USPack USPack is a same-day final-mile delivery company custom-built to help brands and businesses win in the delivery economy. With a 30-year track record of success, the company has a proven ability to create delivery strategies with business impact for customers in retail, healthcare, eCommerce, manufacturing, and distribution. For more information, visit www.gouspack.com.
About Tenney Group
Tenney Group is a merger and acquisition advisory firm that has been dedicated to the transportation and logistics industry since 1973. Tenney Group primarily provides sale side advisory services for companies with annual revenues ranging from 20M to 300M. For more information, visit www.thetenneygroup.com .